XSTRATA (XSRAF $14.83, rated Overweight; PRICE TARGET LOWERED FROM $32/share to $31/share) NEAR TERM EARNINGS ESTIMATES REDUCED DUE TO LOWER ESTIMATED NEAR TERM METALS PRICES 5/21/2012

XSTRATA (XSRAF $14.83, rated Overweight; PRICE TARGET LOWERED FROM
$32/share to $31/share) NEAR TERM EARNINGS ESTIMATES REDUCED DUE TO
LOWER ESTIMATED NEAR TERM METALS PRICES 5/21/2012