Analyst James Faucette of Morgan Stanley maintained a Buy rating on Galaxy Digital, retaining the price target of $36.00.
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James Faucette has given his Buy rating due to a combination of factors tied to Galaxy Digital’s data center expansion and power positioning. He highlights that the company’s 830 MW interconnection appears insulated from the proposed ERCOT batch changes, while a separate 800 MW request could also clear in the initial batch, leveraging existing substation infrastructure and limiting additional grid build-out risk.
He also points to management’s strategy to evolve into a multi-tenant, multi-gigawatt, multi-campus platform, with a scarce, grid-connected power block of 830 MW that is seeing intense demand from hyperscalers. The timely build-out for anchor tenant CoreWeave, reinforced by Nvidia’s multibillion-dollar commitment and AI factory roadmap, supports confidence in execution, underpins the sum-of-the-parts valuation, and justifies maintaining an Overweight stance within the established $30–42 base-case range.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GLXY in relation to earlier this year.