Citigroup (C) shares soared 5.04% in Monday's pre-market trading, defying the broader market selloff that has hit most bank stocks. This unexpected surge comes in the wake of Morgan Stanley's recent price target adjustment for Citigroup, showcasing investor optimism amidst global economic uncertainties.

While many major U.S. banks are facing downward pressure due to mounting recession fears and the potential impact of global tariffs, Citigroup stands out with its positive momentum. Morgan Stanley's decision to maintain an "Overweight" rating on Citigroup, albeit with a slight reduction in the price target from $109 to $90, appears to have bolstered investor confidence in the bank's prospects.

The contrast between Citigroup's performance and its peers is striking. As other financial institutions like JPMorgan Chase, Goldman Sachs, and Wells Fargo are experiencing significant declines, Citigroup's stock is bucking the trend. This divergence suggests that investors may be viewing Citigroup as better positioned to navigate the current economic challenges or potentially benefit from certain market conditions. As the earnings season approaches, all eyes will be on how Citigroup and other major banks perform in this volatile environment.