** Analysts at Jefferies note Seven West Media SWM.AX had large significant items "below the line" for its FY25 results

** Broadcasting co reports FY underlying group revenue of A$1.35 bln ($881.55 mln)

** Brokerage reduces price target to A$0.15/shr from A$0.20/shr; retains "hold" rating

** We note May/June growth was weak for co's FY26 outlook; although co mentioned ad market is stabilising — brokerage

** Jefferies says cash conversion is still poor; expects tco not to be in position to pay any dividend for another two years

** Stock down 6.7% YTD, as of last close

($1 = 1.5314 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))