Galaxy Digital Holdings (BRPHF – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Mark Palmer from Benchmark Co. maintained a Buy rating on the stock and has a C$38.00 price target.
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Mark Palmer’s rating is based on several key developments surrounding Galaxy Digital Holdings. The company’s recent approval to uplist its stock to the Nasdaq, following a nearly unanimous shareholder vote, is a significant milestone. This move is expected to enhance the stock’s liquidity, attract broader institutional ownership, and increase sell-side coverage, which could collectively lower the company’s cost of capital.
Additionally, the effective declaration of Galaxy Digital’s registration statement by the SEC has already led to a substantial rally in the company’s shares. Furthermore, the anticipation of improved financial performance, as reflected in the increased earnings estimates for the first quarter of 2025, underscores the positive outlook. These factors combined contribute to Mark Palmer’s decision to assign a Buy rating to the stock.
According to TipRanks, Palmer is ranked #637 out of 9511 analysts.
In another report released yesterday, KBW also maintained a Buy rating on the stock with a C$36.00 price target.