** Xero XRO.AX gains 1.5% to A$174.1

** Citi expects accounting software maker to deliver 24% revenue growth in FY25, primarily driven by average revenue per unit (ARPU) growth

** Raises PT to A$200 from A$198; reiterates "buy"

** Says, "We also expect focus on revenue growth outlook and whether subscription growth is picking up and product mix benefit is coming through as the product improves"

** Downgrades EBITDA by 2% and 3% for FY26 and FY27, respectively, to reflect higher executive remuneration, brand investment in U.S.

** Xero gains 3.1% YTD

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))