Galaxy Digital price target lowered to $30 from $48 at Cantor Fitzgerald

Cantor Fitzgerald analyst Brett Knoblauch lowered the firm’s price target on Galaxy Digital (GLXY) to $30 from $48 and keeps an Overweight rating on the shares. The firm believes the world is heading toward the proliferation of AI across nearly every business, sector, and economy and in that context it sees AI infrastructure as “an attractive place to invest,” given that investors are somewhat agnostic to which AI app or AI model emerges victorious. The firm envisions a persistent supply/demand imbalance for the next five-plus years that caters to pricing remaining strong, the analyst tells investors.