** Citi sees 'good value' for Australia's Lendlease Group LLC.AX, says stock's pricing is too attractive to ignore

** On Monday, the integrated real estate business agreed to sell its Milano Santa Giulia mixed-use development rights in Italy for around A$250 million ($179.05 million)

** Co says sale will be at a discount to book value and expects a post-tax operating loss of around A$175 million

** Brokerage says co creates a larger-than-anticipated loss for FY26 earnings, but says it affects the non-core capital release unit division

** Says core business FY26 EPS guidance of 28 to 34 AU cents/share, likely unimpacted by this

** Adds, the stock is trading at a discount; about 25% lower than estimated value of Lendlease's core assets

** Citi retains stock rating 'buy', maintains PT at A$6.3

** YTD, LLC down 50.6%, as of stock's last close

($1 = 1.3963 Australian dollars)