MARKET TALK: Credit Suisse Downgrades BHP Billiton To Neutral

19th Jul 2010 08:21

0721 GMT [Dow Jones] Credit Suisse downgrades BHP Billiton (BLT.LN) to neutral from outperform, after lowering the company's earnings by 4% in FY '10, 16% in FY '11 and 12.5% in FY '12, due to changes to commodity price forecasts. Sees negative medium-term catalysts ahead. Maintains 2300p price target. Similarly, reduces Rio Tinto (RIO.LN) price target to 4500p from 5000p after reducing FY '10 earnings forecast by 11%, and by 19.5% in both FY '11 and FY '12, due to the brokerage's commodity prices revisions. BHP Billiton shares -0.5% at 1802p and Rio Tinto -0.1% at 3001p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 03:21 ET (07:21 GMT)