Shares in Indonesia's Bumi fall 10 pct as Citi cuts target

JAKARTA Aug 5 (Reuters) - Shares of Indonesia's largest coal producer, PT Bumi Resources Tbk (BUMI.JK), sank as much as 10.3 percent on Tuesday after Citigroup cut its target price for the stock.

Bumi shares traded at 5,400 rupiah at 0433 GMT, recovering from an intraday low of 5,250 rupiah.

The stock hit an all-time high of 8,750 rupiah on June 10, but has plunged by around 40 percent since then due to a fall in coal prices, while the overall index .JKSE has lost about 8 percent.

Citigroup said it cut its target price for Bumi to 8,300 rupiah ($0.914) a share, from 9,600 rupiah previously, as it revised its forecast for the firm's earnings. (Reporting by Harry Suhartono, editing by Sara Webb)