Update
Citi Upgrades Galaxy Digital's Crypto Outlook
Citi, a financial institution, has upgraded its outlook on Galaxy Digital, a company that runs businesses including trading, asset management, and infrastructure. Citi raised its 12-month Bitcoin price target to $113,000 and Ether to $3,028, reflecting a strong run in crypto prices and improved regulatory environment. The bank projects inflows from advisors and brokerages could reach $5 billion over the next 12 months, which Citi expects to have a meaningful positive effect on Galaxy Digital's revenue lines. Citi's rating on GLXY remains Neutral, but the broader analyst consensus is in Moderate Buy territory.