BUZZ-Citi raises target on Australia's S&P/ASX 200 to 6,300

** Citigroup (NYSE: C - news) raises target on Australia's S&P/ASX 200 to 6,300 from 6,100

** Says persistence of a high market PE seems likely this year

** S&P/ASX 200 is the best performing equity index in Asia Pacific YTD with 9.3 pct return

** Likes Stockland Corp Ltd, Lend Lease Group (Other OTC: LLESF - news) , Asciano Ltd, Newcrest Mining, Coca-Cola Amatil Ltd and QBE Insurance Group Ltd

** Recommends BHP Billiton Ltd, RIO Tinto (Xetra: 855018 - news) and Woodside Petroleum Ltd (Other OTC: WOPEF - news) among resource heavy weights

** Adds market's price to book ratio is still around long-term average

** Says equity yields encourage domestic investors to move funds into equity

** Adds the decline in the Australian Dollar makes market more attractive to foreign investors (Reuters Messaging: abhishek.vishnoi.thomsonreuters.com@reuters.net)