BUZZ-Wolseley: Citi's bullish view pushes stock to FTSE top

** British plumbing supplies co Wolseley (LSE: WOS.L - news) up c.2 pct, top FTSE-100 gainer & on-track for largest intraday gain in c.1 mnth on Citi taking bullish stance

** Brokerage says co well placed for medium term assuming sustained macro recovery & employment growth in the U.S (Other OTC: UBGXF - news) . despite rising rates

** Co in June says on track to meet analysts' FY expectations, pinning hopes on strong growth in its largest market, the United States

** Citi upgrades stock to "buy" from "neutral" & moves up TP to 4725p from 4100p

** 12 of 24 brokerages rate the stock "buy" or higher, 11 "hold" and 1 "sell" or lower; their median PT is 4400p

** Upgrade reflects slightly higher FY17 earnings estimate & valuation higher on sector re-rating, potential for share gain & margin expansion

** Up to Friday's close, stock had risen c.14 pct YTD, outpacing 6 pct gain in E300 Industrial Goods & Services Index (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)