Citi raises Goldman Sachs PT on brighter near-term outlook
** Citi Research raises its PT on Wall Street giant Goldman Sachs GS.N to $585 from $485, which represents less than 1% upside to stock's last close
** Brokerage notes that GS stock is now trading at 1.9x its tangible book value (TBV), which it believes reflects the market pricing in the bank hitting the high end of its target of 15-17% return on tangible common equity (ROTCE)
** TBV is a metric to measure a company's net worth, while ROTCE measures how well a bank uses shareholder money to produce profit
** Citi also raises its EPS estimate on GS primarily due to capital markets rebound
** As of last close, GS shares up 50.8% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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