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Garanti Removed From Goldman ‘Focus-Sell’ List After Falls

Goldman Sachs Group Inc. removed Turkiye Garanti Bankasi AS, Turkey’s biggest bank by market value, from its ‘‘focus-sell’’ list after the share’s recent ‘‘underperformance.’’

Garanti’s earnings should be boosted by higher inflation in the fourth quarter, due to the inflation-linked bonds the bank owns, Goldman analysts including Waleed Mohsin in Dubai said in an e-mailed report today.

‘‘Pressure on Garanti’s shares could ease post underperformance, as recent stronger CPI prints should boost fourth-quarter earnings,” the analysts said.

Garanti’s rating remained at “sell’ with a price estimate of 6.53 liras, they said.

Shares in Garanti fell 2.7 percent to 5.86 liras at 5:13 p.m. on the Istanbul Stock Exchange.

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