PANews, July 23 - According to CoinDesk, Jefferies stated in its latest research report that Galaxy Digital (GLXY) is expected to gain more favourable information due to the favorable regulatory environment for crypto assets. Jefferies cited the passage of the GENIUS Act in the United States as an example, believing it provides a favorable market structure for Galaxy's business, and has given the company a "buy" rating for the first time, with a target price of $35. The report also pointed out that Galaxy has the potential to benefit from the growing demand for artificial intelligence data centers by leasing a 393-megawatt data center located in West Texas from CoreWeave. Currently, about two-thirds of Galaxy's company value comes from its data center business. On Tuesday, GLXY's stock price rose over 6%, closing at $29.11, and rose another 3% in pre-market trading to $30.
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Jefferies assigned a "Buy" rating to Galaxy Digital with a target price of $35.
PANews, July 23 - According to CoinDesk, Jefferies stated in its latest research report that Galaxy Digital (GLXY) is expected to gain more favourable information due to the favorable regulatory environment for crypto assets. Jefferies cited the passage of the GENIUS Act in the United States as an example, believing it provides a favorable market structure for Galaxy's business, and has given the company a "buy" rating for the first time, with a target price of $35. The report also pointed out that Galaxy has the potential to benefit from the growing demand for artificial intelligence data centers by leasing a 393-megawatt data center located in West Texas from CoreWeave. Currently, about two-thirds of Galaxy's company value comes from its data center business. On Tuesday, GLXY's stock price rose over 6%, closing at $29.11, and rose another 3% in pre-market trading to $30.