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StoneX says Galaxy Digital is undervalued and repeats Buy rating with $57 target

NewsFeeds update

StoneX repeated its Buy rating on Galaxy Digital and kept a $57 price target, saying the valuation understates its AI data centre business and leaves out its digital asset operations. The bank pointed to market worries over CoreWeave's rising borrowing costs and its $35.6bn of outstanding debt at the end of June.

MacroPANewsAIBullish

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The story so far: Galaxy Digital stock and CoreWeave concerns

StoneX repeated its Buy rating on Galaxy Digital with a $57 target, saying the valuation understates its AI data centre business and ignores digital assets, amid worries over CoreWeave's borrowing costs and debt. Galaxy Digital shares fell 30% over two weeks on CoreWeave concerns. CEO Mike Novogratz now says GLXY's…

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  1. StoneX says Galaxy Digital is undervalued and repeats Buy rating with $57 target

  2. Galaxy Digital falls 30% in two weeks on CoreWeave concerns as StoneX calls stock undervalued

  3. Galaxy's Mike Novogratz says share price is detached from value and will buy more stock

  4. Galaxy's Novogratz says he will buy more GLXY shares

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.