Galaxy Digital up after Rosenblatt starts coverage with 'buy'

Galaxy Digital

24/06/2025 18:09

** Shares of digital assets and data center infrastructure firm Galaxy Digital GLXY.O rise 5.5% to $19.48

** Rosenblatt initiates GLXY coverage with a "buy" rating and $25 PT

** Rosenblatt expects GLXY's exclusively institutional-focused digital assets business to thrive in the new political environment

** With regulatory clarity imminent and broadening acceptance of crypto as a new asset class, GLXY's full service approach and broad product set should grow rapidly in this new paradigm - Rosenblatt

** Believe GLXY's unique industry knowledge, key relationships, and first-mover advantage should help accelerate its growth trajectory even as competition increases - brokerage

** GLXY, listed on the Toronto Stock Exchange since 2020, made its Nasdaq debut in May

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))