BUZZ-Australia's IGO down for second session; Citi downgrades to 'neutral'

Reuters04-11

** Analysts at Citi downgrade Australian lithium producer IGO to "neutral" from "buy", trim PT to A$7.60

** IGO shares fall as much as 2.9% to A$7.280, extending losses to a second session; the metals and mining sub-index

rises a marginal 0.1%

** Citi also trims its EBITDA estimates for FY25 and FY26 by 16% and 14%, respectively, after downgrading its medium-term lithium price forecasts

** Brokerage says lack of strategic production plan for Greenbushes, coupled with less-than-stellar nickel business metrics, not working in favour of IGO

** As of last close, IGO stock down 17.1% this year

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))

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