StoneX reiterates Buy rating on Galaxy Digital (GLXY) with a price target of 57 USD
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AT A GLANCE
StoneX reiterates its Buy rating on Galaxy Digital and its 57 USD price target, saying that the value of its AI data center business is undervalued.
Article
Investment bank StoneX reiterates its Buy rating on Galaxy Digital (GLXY) and maintains its 57 USD price target
PANews October 19 reported, according to The Block, that investment bank StoneX reiterated its “Buy” rating on Galaxy Digital (GLXY) and maintained its 57 USD price target. The firm believes Galaxy’s current valuation undervalues its AI data center business and does not, in fact, factor in its digital asset business. Market concerns are mainly focused on CoreWeave’s rising borrowing costs and its outstanding debt as of the end of June 35600000000 USD.
StoneX reiterates its “Buy” rating on Galaxy Digital (GLXY).
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StoneX maintains its 57 USD price target for Galaxy Digital.
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StoneX believes Galaxy Digital’s current valuation undervalues its AI data center business.
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StoneX believes the current valuation does not, in fact, factor in Galaxy Digital’s digital asset business.
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The original article said market concerns are focused on CoreWeave’s rising borrowing costs and its outstanding debt as of the end of June 35600000000 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is an investment bank’s research assessment of a stock. “Buy” indicates that StoneX is bullish on GLXY，“57 USD“Price target” is its valuation expectation and does not guarantee that the share price will reach it. StoneX’s main view is that the market has not yet fully reflected the value of Galaxy Digital’s AI data center and digital asset businesses.
Why it matters to readers
This rating may affect how the market values GLXY, but the original article also noted concerns related to CoreWeave’s borrowing costs and outstanding debt, indicating that this valuation view carries financing and debt risks.
Beginners should treat an investment bank rating as one institution’s view, rather than a promise of certain returns; they can monitor the basis for the price target, performance of the relevant businesses, and debt risks.
Risks and unknowns
The information was relayed by PANews from The Block. The original article did not provide StoneX’s research report or Galaxy Digital materials, so the full basis for the rating cannot be verified.
The original article did not specify the entity to which the 35600000000 USD outstanding debt belongs.
The original article did not state the time horizon for the 57 USD price target.
StoneX’s statement that the business value is undervalued is an institutional assessment and cannot be independently verified based on this evidence.
The original article did not provide the specific extent of the increase in CoreWeave’s borrowing costs.
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