** U.S.-listed shares of China-based GDS Holdings rise 2.8% to $11.14
** RBC upgrades the shares to "outperform" from "sector perform" and lifts PT to $14 from $13, implying a 29% upside to stock's last close
** Brokerage sees revenue, earnings upside in next two years at GDS International $(GDSI)$, the holding company for international operations
** GDSI's series A private preferred equity raise was a positive valuation benchmark, future rounds could provide further valuation support - brokerage
** 13 brokerages rate the stock "buy" or higher and 4 "hold"; median PT $12.55 - LSEG
** GDS' U.S.-listed shares up 22% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))