UPDATE 1-Citi cuts US diversified industrials to neutral


* Removes Wesco from top picks list * Cuts price targets on GE, Honeywell, 3M * Downgrades Actuant to "neutral" on Europe exposure June 28 (Reuters) - Citi Investment Research downgraded the U.S. multi-industry and electrical equipment sector to "neutral" from "attractive," saying the tough operating environment in Europe will pose the greatest risk to industry earnings in the next two years. The brokerage also cut its rating on Actuant Corp to "neutral" from "buy," given the company's 35 ...

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