** U.S. bank Truist Financial's TFC.N shares rise 1.7% to $42.09 premarket

** Citi Research upgrades TFC to "buy" from "neutral"; raises PT to $55 from $44, a 32.9% upside to stock's last close

** Says TFC continues to trade at a discount and sentiment is increasingly bearish, creating an attractive entry point for investors

** Brokerage sees tailwinds from TFC's ability to increase buybacks due to strong capital position and cheap share price

** Citi expects some upside to Street estimates on expense discipline, credit costs, and higher buybacks

** 10 of 23 brokerages rate the stock "buy" or higher and 13 "hold"; median PT $46 - data compiled by LSEG

** As of last close, TFC stock down 4.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))