** Shares of Titan Company TITN.NS rise 1.7% to 4,481.20 rupees

** Citi upgrades stock to "buy" from "neutral" with PT of 5,075 rupees, sees strong jewellery demand resilience

** Flags Titan as "outlier" in demand despite high gold prices and competition

** Brokerage introduces positive 90-day catalyst watch, citing earnings visibility

** Expects better product mix, with faster growth in studded jewellery

** Goldman Sachs warns falling gold prices could delay purchases short term

** However, brokerage sees margin expansion, cash-flow gains as key upside from lower gold prices

** Avg rating of 35 analysts on TITN at "buy"; median PT is 5,030 rupees - LSEG-compiled data

** YTD, stock up 10.6% vs Nifty 50's .NSEI 9.9% drop