BUZZ-Australia's BHP Billiton falls after cut in copper outlook

** Australia-based miner BHP Billiton Ltd's shares down as much as 2.4 pct, losing ground from Tuesday's 2.6 pct rise

** Company updates its FY15 forecast for total copper production to 1.7 million tonnes, a 6-pct cut on prior guidance

** Q3 iron ore production up 20 pct to about 59 million tonnes, while Q3 copper production up 11 pct to 460 kilo tonnes

** Morgan Stanley Research cuts target price to A$32.00 from A$32.30 with an "equal-weight" rating

** At Tuesday's low, it was down 10.3 pct since March 2, which was its peak for the year to date

** Stock among bottom performers on the S&P/ASX 50 index (Reuters Messaging: nitin.sj.thomsonreuters.com@reuters.net)