Galaxy Digital price target lowered to $30 from $34 at Goldman Sachs

Goldman Sachs analyst James Yaro lowered the firm’s price target on Galaxy Digital (GLXY) to $30 from $34 and keeps a Neutral rating on the shares. Brokers and crypto stocks have dropped about 15% since mid-October despite higher forward estimates, as valuation multiples compressed sharply amid volatile equity and crypto markets, the analyst tells investors in a research note. While near-term pressure is likely to persist until markets stabilize, the group’s long-term outlook remains supported by strong product innovation, large addressable markets, regulatory momentum, and continued inorganic growth, Goldman says.