CIMB Research initiated coverage of Singapore’s Super Group Ltd, which makes instant beverages, with an outperform rating and a target price of S$2.37. Shares of Super were 1.1 percent higher at S$1.825 and have surged 39 percent so far this year. “Super offers great exposure to the rapidly-growing middle classes in difficult to penetrate Southeast Asian markets like Myanmar, where it is the top seller of instant coffee,” CIMB said in a report. The company has also partnered key local players such as Petra in Indonesia and San Miguel in the Philippines, reports Reuters news agency.
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