The increase in price target from $56 to $65 by Jefferies analyst Ken Usdin reflects a positive outlook on Citigroup's future performance. This adjustment suggests that the analyst sees potential for growth or improvement in Citigroup's financial health or market position, which could lead to an increase in the stock's value. However, the Hold rating indicates that the analyst believes the stock is currently fairly valued, suggesting that while there is potential for growth, it may not be significant enough to warrant an upgrade to a Buy rating at this time.