** Citi backs Australian medical imaging software provider Pro Medicus PME.AX, cites its moat and hard-to-replicate technology despite reduced upside to its target price

** Brokerage says clients are "better off with than without" the product; investors continue to give the firm the benefit of the doubt as it expands an AI portfolio with its own ecosystem at the centre

** Citi slightly delays the expected contribution from already-won business into the H2, leading to low single-digit changes in mid-term EPS estimates

** Says the forecast revisions trim its discounted cash flow valuation to A$240 per share, while retaining the "buy" rating with less upside than before

** Stock down 6.7%, YTD