1148 GMT - Citi boosts its 12-month target price on ether to $3,028 from $2,240 as renewed activity and dollar debasement fears return to markets. "The increase draws from all three components of our process: activity, macro, and ETF flows," the analysts write. "Ether is more sensitive to activity given its 'programmable money' use case." Investor fears that high government deficits could erode the value of fiat currencies is another reason behind the bank's more bullish shift on the broader crypto industry. Citi boosts its bitcoin target price to $113,000 from $82,000 alongside the ether upgrade. Ether is 0.6% higher at $2,696.