Citi downgrades Allegro to Neutral after 63% rally, raises price target

Citi has downgraded Allegro to Neutral following a 63% rally, although the firm simultaneously raised its price target. In the cryptocurrency market, Bitcoin is testing the $85,000 level as Citi increases its price forecast to $113,000. However, Citi notes that a projected $5 billion inflow remains contingent upon steady institutional demand over the next 12 months. These updates reflect Citi's current strategic outlook on both traditional equity and digital asset markets.