** Citi lowers PT on Australian conglomerate Wesfarmers WES.AX to A$60.00 from A$61.00; retains "sell" rating
** Brokerage also lowers its EBIT forecasts by 1% and 3% for FY25 and FY26, respectively
** Forecasts cut on lower lithium prices; brokerage sees further downside risk if prices do not recover
** Citi now sees EBIT loss in lithium of A$87 million ($55.78 million) in FY26 and a profit of A$44 million in FY27, given expected recovery in price and production ramp up
** Brokerage also sees "potential for disappointment" for company's home improvement business, Bunnings
** About 70% of Wesfarmers' enterprise value is generated from Bunnings - Citi
** Two of 14 analysts rate the stock "buy" or higher, five rate "hold" and seven rate "sell" or lower; their median PT is A$70.10, according to data compiled by LSEG
** WES up 16.16% YTD, and last closed at A$83.09
($1 = 1.5598 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com;))
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