Sheng Siong shares drop after OCBC downgrade — even with a higher S$2.89 target
Sheng Siong shares fell 4.2% to S$2.73 on Wednesday after OCBC downgraded the stock to “hold,” citing stretched valuations ahead of FY2025 results due March 2. OCBC raised its fair value estimate to S$2.89 but flagged the 12-month forward P/E ratio of 24.8 times, above the historical average.
