** Citi cuts price targets for Australian lithium miners as U.S. reciprocal tariffs are expected to be a headwind for demand

** Says without meaningful development of a resilient ex-China supply chain and associated demand, lithium prices likely to trade below long-run incentive prices in near-to-medium term

** Cuts PT for Pilbara Minerals PLS.AX to A$1.65 from A$2.40, cuts IGO IGO.AX to A$4.0 from A$5.30, cuts Mineral Resources MIN.AX to A$20

** However, Citi hikes rating for PLS and IGO to "buy" from "neutral", selects PLS as the top pick among lithium cos

** After completion of Pilbara Minerals' P1000 expansion project at its Pilgangoora operation this FY, Pilgangoora will generate free cash flow as operations become larger and lower cost — Citi

** Says IGO brings investors exposure to its low-cost Greenbushes hard rock lithium mine

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com))