** Citi flags caution on Paladin Energy PDN.AX cutting FY25 production guidance as ore variability and NamWater supply disruption raises concerns
** Paladin cuts FY25 production outlook to 3-3.6 mln pounds (mlb) from 4-4.5 mlb
** Brokerage, however, cites confidence in co's potential to achieve 6 mlb run rate by CY25 & bullish outlook on Yellowcake Uranium prices
** Says FY25/26 EBITDA down at 41%/17% due to lower uranium prices and as market shifts on President-elect Trump's potential policies to ease restrictions on Russian uranium supplies
** Citi sees co's underlying net cash at ~$20 mln by FY25 with robust balance sheet
** Maintains "buy" rating at TP A$11.50
** Stock down 30.2% YTD as of the last close
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com))
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