BHP BILLITON (BHP $67.46, rated Neutral, price target lowered to $86 from $88) LOWER ESTIMATED COPPER AND NICKEL PRICES HURT EARNINGS ESTIMATES, NPV AND PRICE TARGET MORE THAN THE BENEFITS OF HIGHER LONG TERM NATURAL GAS AND OIL PRICE ESTIMATES AND OIL AND GAS OUTPUT 5/23/2013

BHP BILLITON (BHP $67.46, rated Neutral, price target lowered to $86 from $88)
LOWER ESTIMATED COPPER AND NICKEL PRICES HURT EARNINGS
ESTIMATES, NPV AND PRICE TARGET MORE THAN THE BENEFITS OF
HIGHER LONG TERM NATURAL GAS AND OIL PRICE ESTIMATES AND OIL
AND GAS OUTPUT 5/23/2013