** Citi maintains rating on toll road operator Transurban TCL.AX as it manages borrowing costs and explores U.S. opportunities

** Analysts say borrowing costs of ~200 basis points are above the weighted average cost of debt, presenting a financial headwind

** Highlights co's focus on cost management, including A$50 million ($32.61 million) savings announced last month

** Brokerage sees future savings, saying TCL is closely monitoring procurement and operational & maintenance contracts

** Highlights potential pipeline opportunities with Netherlands-based Ferrovial to bid for two U.S. toll roads

** Retains "neutral" rating at PT of A$14.30/shr on the stock

** Stock up 6.6% YTD

($1 = 1.5335 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))