Galaxy Digital Holdings (BRPHF – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Joseph Vafi from Canaccord Genuity maintained a Buy rating on the stock and has a C$37.00 price target.
Joseph Vafi has given his Buy rating due to a combination of factors that highlight Galaxy Digital Holdings’ strategic advancements and potential for growth. The company has recently secured a significant contract with Coreweave for AI data center hosting at their Helios facility, which is expected to generate around $4.5 billion over a 15-year period with a high gross margin. This contract not only provides a steady revenue stream but also positions Galaxy advantageously in the market.
Additionally, despite the current downturn in crypto spot prices, the medium-term outlook for Galaxy appears promising. The company’s operational performance in Q4 was robust, supported by strong market momentum and asset management. Although there are challenges, such as a legal charge related to past digital asset sales, Galaxy’s focus on listing its shares in the US and resolving these issues demonstrates a proactive approach to enhancing shareholder value.
Vafi covers the Technology sector, focusing on stocks such as Concentrix, Alight, and Dave. According to TipRanks, Vafi has an average return of 19.1% and a 42.79% success rate on recommended stocks.
In another report released today, KBW also maintained a Buy rating on the stock with a C$42.00 price target.