Galaxy Digital (GLXY) PT Lowered to $40 at H.C. Wainwright

H.C. Wainwright analyst Mike Colonnese lowered the price target on Galaxy Digital (NASDAQ: GLXY) to $40.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "Trimming price target to $40. We are lowering our price target to $40 from $45 previously, reflecting a ~5.5x price-to-book value multiple applied to our revised 2026 year-end book value estimate of $2.7B. Our valuation represents a premium vs. public crypto exchanges and blockchain infrastructure providers given GLXY's diversified business model and unique exposure to the HPC/AI hosting. Risks to our Buy rating and price target include a dynamic regulatory environment, significant volatility in digital assets, intense competition, and technology-related risks."

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