0702 GMT - Sheng Siong Group's supermarket sales stand to gain as the prevalence of working from home due to Singapore's Covid-19 restrictions remain, DBS Research says. "As Singapore enters the 'living with Covid-19' phase, full relaxation of restrictions is likely to take time," which should continue supporting supermarket sales, the bank says. DBS keeps a buy rating on the stock but lowers its target price to S$1.58 from S$1.77 to account for expectations of moderating sales once the country further relaxes domestic Covid-19 curbs. Shares are flat at S$1.42. (yongchang.chin@wsj.com)
Sheng Siong's Sales Should Gain as Work-From-Home Trend Persists -- Market Talk
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