** Citi analysts upbeat on Bank of Queensland BOQ.AX after the lender reported first-half cash earnings of A$183 million ($116.57 million), about 10%-11% ahead of consensus
** Brokerage says better results came from lower bad and doubtful debts and a first-half skew to lower costs
** Citi maintains a "sell" rating, citing BOQ will not be immune to headwinds from interest rates, which present new challenges
** "To that end, management initiatives will provide support to the net interest margin through FY25, but a lower rate outlook suggests a more difficult revenue environment ahead" — Citi
** Citi says despite growing clarity on the cost outlook, revenue outlook will be a larger share price driver going forward
** Stock up 2.39% this year, as of last close
($1 = 1.5699 Australian dollars)
(Reporting by Roushni Nair in Bengaluru)
((Roushni.nair@thomsonreuters.com))
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