BUZZ-Morgan Advanced Materials: Citigroup cut PT on restructuring charges

** British manufacturer Morgan Advanced Materials (Other OTC: MCRUF - news) shares fall as much as 4.3 pct after Citigroup (NYSE: C - news) trims PT.

** Citi cuts PT to 330p vs 340p earlier, cites larger than expected restructuring charge & cash outflow.

** Company said on Tuesday it would take a charge of GBP16 mln as part of a restructuring effort to cut its carbon materials footprint.

** This charge would be in addition to the restructuring and one-off charges that Morgan Advanced Material has incurred in 2014 of about GBP6 mln bringing total restructuring and one-off charges to GBP22 mln for 2014.

** Morgan Advanced Material's stock has fallen 6.3 pct since the beginning of the year.

** Out of the 13 analysts covering the stock, 2 have a "sell" rating on it, according to Thomson Reuters Eikon data. (aashika.jain.thomsonreuters.com@reuters.net)