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Galaxy Digital Gains Favorable Outlook Amid Regulatory Environment
According to PANews, Jefferies has highlighted a positive outlook for Galaxy Digital (GLXY) in its latest research report, citing a favorable regulatory environment for cryptocurrencies. The report uses the recent passage of the GENIUS Act in the United States as an example, suggesting it provides a beneficial market structure for Galaxy's operations. Consequently, Jefferies has issued a 'buy' rating for the company, setting a target price of $35.
The report also notes Galaxy's potential to benefit from the growing demand for artificial intelligence data centers, as it leases a 393-megawatt data center in West Texas from CoreWeave. Currently, approximately two-thirds of Galaxy's company value is derived from its data center business.
On Tuesday, Galaxy Digital's stock price closed over 6% higher at $29.11 and continued to rise by 3% in pre-market trading, reaching $30.
The report also notes Galaxy's potential to benefit from the growing demand for artificial intelligence data centers, as it leases a 393-megawatt data center in West Texas from CoreWeave. Currently, approximately two-thirds of Galaxy's company value is derived from its data center business.
On Tuesday, Galaxy Digital's stock price closed over 6% higher at $29.11 and continued to rise by 3% in pre-market trading, reaching $30.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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