<div>Credit Suisse downgrades Coal India to "neutral" from "outperform" but raises its target price to Rs 380 from Rs 330.<br /><br />The investment bank says Coal India "is cheap no longer" while noting "it is difficult to see volumes improving within 3-4 years."<br /><br />Still, Credit Suisse says Coal India shares have uspide risk until the government's restructuring plans are unveiled.<br /><br />Prime Minister Modi is exploring breaking up Coal India and opening up the sector to foreign investment, two sources with knowledge of the matter told Reuters on May 21.<br /><br />"Till government's plans for restructuring are known, CIL can become a concept stock with upside risk," Credit Suisse said in a note on Monday (2 June).<br /><br />Coal India shares are flat in trade as of 11:48 a.m.<br /><br />(Reuters)</div>
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