** Shares in Eramet drop 3.5% after Stifel downgrades the French miner to "sell" from "buy" citing an end to China and Indonesia growth profiles

** "The deep crisis in the property and steel industries in China and the more restrictive mining policy in Indonesia will, in our view, force the Group to halt its mining development plans and focus instead on optimising its costs," says the broker

** The group sharply cut 2024 production targets on Wednesday for its manganese mine in Gabon and nickel mine in Indonesia, the group's two biggest mining operations

** "With no further growth prospects (apart from lithium), Eramet can no longer hope for a fundamental revaluation of its share price," Stifel says

** Broker adds that resumption of manganese production in 6 to 9 months from Australian competitor South32 should also weigh on Eramet shares

** From six analysts that cover Eramet, four rate it "strong buy" or "buy"​, one rates "hold", and one rates "sell"

(Reporting by Dimitri Rhodes)

((Dimitri.Rhodes@thomsonreuters.com;))