** Citi Research cuts PT on U.S. shares of Canadian auto-parts maker Magna International Inc to $62 from $66
** Brokerage says PT reflects co’s 2019 guidance, which incorporated surprise setbacks in a few advanced driver-assistance system launches, among other challenges
** Magna cut estimate for FY19 net income attributable to co to $1.9 bln-$2.1 bln from $2.1 bln-$2.3 bln, earlier this month
** Citi maintains “buy” rating on stock
** Brokerage adds co’s FCF story appears largely intact and that Magna also taking an aggressive stance on buybacks
** Average rating by 8 analysts covering stock is “hold”, their median PT is $55
** Stock down 8% since results on May 9 (Reporting By Arundhati Sarkar in Bengaluru)
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