RESEARCH ALERT-Credit Suisse raises 2008 copper price forecast

April 28 (Reuters) - Credit Suisse raised its 2008 copper price forecast to $4 per pound from $3.60 and also raised its price target on miner Xstrata Plc (XTA.L) to 5000 pence from 4000 pence.

The brokerage noted that the strikes in Chile, which accounts for about 40 percent of the global copper supply, appeared to be escalating, and could spike the prices of copper above its near-term forecasts.

Credit Suisse, which named Xstrata its copper top pick along with Freeport McMoRan (FCX.N), said Xstrata was trading better after ending talks with Brazillian miner Vale (VALE5.SA) and added that in the near-term, a likely breakout in copper would be a key catalyst for the stock. (Reporting by Ramya Dilip in Bangalore; Editing by Bernard Orr) ((ramya.dilip@reuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging ramya.dilip.reuters.com@reuters.net))