BUZZ-BHP Billiton Plc: JP Morgan cuts price target

** Miner's U.S.-listed shares down 4.5 pct at $46.20 premarket; London-listed shares down 3.8 pct at 1407 pence

** JP Morgan cuts price target on BHP's London-listed stock to 1,425 pence from 1,600 pence

** Company faces shortfall of $6 bln between its free cash flow and dividend for 2015-2016, analysts write in note

** Prices of iron ore for immediate delivery to China fell 1 pct to $58.40 per ton on Tuesday

** Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and slower-than-expected closure of high-cost mines, Fitch Ratings says

** Proposed Australian Senate inquiry into economic impact of slump in iron ore price could damage country's economy and drive Asian customers to shift investment to Brazil, BHP CEO Andrew Mackenzie says

** Up to Monday's close, BHP's U.S.-listed stock had risen 8 pct this year, while London-listed stock had risen 13 pct