Investment bank Stifel gives Galaxy Digital a buy rating and a target price of 20 Canadian dollars.

Galaxy Digital (GLXY) should be a core holding for stock investors looking to gain exposure to the digital asset ecosystem, investment bank Stifel (SF) said in a research note on Wednesday. Stifel has a Buy rating on Galaxy Digital with a price target of C$20. Galaxy closed Thursday at C$13.11, down 4.7%. Analysts Bill Papanastasiou and Suthan Sukumar wrote: “The company offers asymmetric returns, invests primarily in BTC and ETH, has multiple revenue-generating businesses including trading, investment banking, and asset management, and its infrastructure solutions unit is positioned for long-term growth. potential, the division is focused on the core technologies that power decentralized networks.” (CoinDesk)