Canaccord Genuity Raises Galaxy Digital PT to $23 from $17
CryptoNewsTerminal Staff10 Jun, 2024
Canaccord Genuity Raises Galaxy Digital PT to $23 from $17
Canaccord Genuity Raises Galaxy Digital PT to $23 from $17 Global investment bank Canaccord Genuity has raised its price target on crypto financial services firm Galaxy Digital from $17 to $23. The move comes as the broader digital asset adoption story continues to play out. Canaccord maintained a buy rating on Galaxy Digital shares, citing the company's strong business execution amid a backdrop of digital asset prices near all-time highs and a somewhat less uncertain regulatory environment. Galaxy Digital is a leading provider of financial services to the digital asset industry. The company offers a range of products and services, including trading, custody, and asset management. Galaxy Digital has also made a number of strategic investments in the digital asset space, including in blockchain startups and crypto exchanges. The company's shares have been on a tear in recent months, rising over 100% since the beginning of the year. Canaccord's price target increase suggests that the firm believes that Galaxy Digital's shares still have room to run.
