Galaxy Digital initiated with a Buy at Rosenblatt

Rosenblatt initiated coverage of Galaxy Digital (GLXY) with a Buy rating and $25 price target The shares offer a “unique opportunity to invest in the burgeoning crypto sector with an attractive risk/reward,” the analyst tells investors in a research note. The firm says that while Galaxy would likely underperform in the next “crypto winter,” it has has proven its resiliency in prior cycles. A major downturn is unlikely near term and the company has “arguably never been better positioned,” contends Rosenblatt.