Super Grp

Super Grp: DMG downgrades from Buy to Neutral lowering TP from $2.18 to $2.12 on a recent spike in prices of coffee beans. FY2012 earnings have been cut by 4% to $68m due to headwinds from higher prices which avg US$2125 per ton. Any upside potential will come from better margins from improved product mix and higher dividend payout ratios with downside risks on higher material costs