Investment Bank StoneX Reiterates Buy Rating on Galaxy Digital (GLXY), Maintains $57 Price Target

PANews, October 19 - According to The Block, investment bank StoneX has reiterated its "Buy" rating on Galaxy Digital (GLXY) and maintained a $57 price target. The firm believes that Galaxy's current valuation undervalues its AI data center business and, in fact, does not incorporate its digital assets business into the valuation at all. Market concerns primarily center on CoreWeave's rising borrowing costs and its $35.6 billion in outstanding debt as of the end of June.