*As seen on our tweet:*

[image: Inline image 1]

*Going into FY12, UNVR has indicated a potential slowdown in earnings
growth. We **stay UnderWeight** with a Dec-12 of** Rp18,000**. **Sell into
strength.*

JP Morgan UNVR *full research* (http://tinyurl.com/c6zcto5)
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