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StoneX has maintained a Buy rating on Galaxy Digital (GLXY) and set a $57 price target, The Block reported.
The firm said the market has been too focused on debt concerns surrounding CoreWeave, a key tenant at Galaxy Digital’s Helios AI data center campus in western Texas, and as a result has undervalued the business. GLXY has fallen about 30% over the past two weeks amid concerns about CoreWeave’s financial health. Against that backdrop, StoneX analyst Mark Palmer said investors should also consider Helios’ additional expansion potential and the broader outlook for AI computing demand. GLXY was trading at $16.34, up 1.21%, at the time of the report.