Galaxy Digital up after Piper Sandler raises PT on growth optimism

Piper Sandler Companies

01/10/2025 11:28

** Piper Sandler raises PT on digital assets and data center infrastructure firm Galaxy Digital GLXY.O to $42 from $36; retains "overweight" rating

** Shares of GLXY rise 2.3% to $34.6 premarket

** Brokerage updates its model and sum-of-the-parts (SOTP) analysis because of GLXY's expanding data center capacity, crypto exposure, and AI-related growth potential

** Piper Sandler values the company's core digital assets business at $16.80 per share based on global markets, asset management, and digital asset holdings

** All 11 analysts covering the stock have a "buy" or higher rating; median PT is $48.22 - data compiled by LSEG

** As of last close, GLXY up ~95% YTD

 (Reporting by Anuj T in Bengaluru)

 ((anuj.t@thomsonreuters.com))