** Citi upgrades rating on Australia's top oil and gas producer Woodside Energy WDS.AX to "neutral" from "sell", raises PT to A$24 from A$22
** WDS reports 13% drop in FY24 underlying profit, though it beat consensus estimates
** Company says it is well positioned to capitalise on demand for U.S. LNG driven by President Donald Trump's trade policy and pro-fossil fuel agenda
** Woodside CEO Meg O'Neill says Trump's policy already generating business for its Louisiana LNG (LLNG) project
** WDS also looking for potential buyers for a stake in LLNG
** Company's shares ended 2.8% higher on Tuesday at A$24.03 per share, a near two-week high
** Citi says WDS remains "underweight" for fund managers; adds if WDS sells 50% stake in LLNG in coming months, "underweight could be a pain trade"
** Brokerage says any sell downs will likely improve both sentiment and fundamentals
** Morningstar, with a fair value estimate of A$41.50, says market is "overly bearish" on WDS
** 6 of 14 analysts rate WDS "buy" or higher, 7 "hold", 1 "strong sell"; median PT A$27 - LSEG
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com))
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