Tradeview Upgrades 99SMART to Buy on Budget 2027 Boost and Defensive Appeal
C.R. Lee ·
AI-assisted, reviewed by C.R. Lee
Tradeview Research analyst Benard Toh Rui Xiang upgraded 99 Speed Mart Retail Holdings to “Buy” from “Hold”, maintaining its target price of RM3.62, implying 20.3% upside. The upgrade reflects the retailer’s potential to benefit from Budget 2027 through higher SARA assistance, stronger purchasing power among lower-income consumers and a smaller-than-expected minimum wage impact.
Bernard expects year-end SARA redemptions and the November RM1.1 billion Sumbangan Tunai Rahmah (STR) payout to support sales.
In addition, combined STR and SARA allocations are expected to increase to RM16 billion in 2027 from RM15 billion in 2026, potentially generating RM100 million in additional annual sales if 99 Speed Mart captures 10% of the allocation. Meanwhile, Bernard expects outlet expansion to remain on track, with 250 net additions targeted for 2026.
As of 3:36 p.m. on November 13, 99 Speed Mart Retail Holdings’ share price remains unchanged at RM3.01.
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The call: TradeView on 99 SPEED MART RETAIL HOLDINGS BERHAD
- Rating
- Buy
- Target price
- RM 3.62
- Upside from current
- 20.7%
Benard Toh Rui Xiang's 12-month track record
- Success rate
- N/A
- Average return
- N/A
- Stocks covered
- 7
Consensus target price for 99SMART
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