Nov. 13 (Bloomberg) -- Suning Appliance Co., China's biggest electronics retailer by market value, fell to the lowest in a month in Shenzhen trading after Credit Suisse Group cut its rating and price target on concern sales growth will slow.

Suning Appliance dropped 5.2 percent to 12.29 yuan, set for the lowest since Oct. 17, as of 10:12 a.m. local time after slumping as much as 6.3 percent on the Shenzhen Stock Exchange.

The stock had its rating cut to ``underperform'' from ``neural,'' said analysts Michele Mak and Aaron Yeung at Credit Suisse in a research note today. The price target was reduced to 10.20 yuan from 18.65 yuan, according to the report.

``The strong growth in the third quarter of 2008 is expected to reverse in the fourth quarter, even without the sharp change in consumer sentiment,'' said the report.

To contact the reporter on this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net; Chan Tien Hin in Kuala Lumpur thchan@bloomberg.net

Last Updated: November 12, 2008 21:37 EST