Piper Sandler lowered the firm’s price target on Galaxy Digital (GLXY) to $36 from $42 and keeps an Overweight rating on the shares. The firm acknowledges that it was a roller coaster quarter for its BTC miner coverage, marked by significant market volatility and a recent rally in BTC price. The key theme across the group remains the viability of existing sites – and new power approvals – for AI computing conversion, Piper argues. The firm maintains its bullish outlook on the group, and views the recent rebound in BTC price as a point of reassurance for investors looking to buy in ahead of a signed deal.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLXY:
- Galaxy Digital Inc. – Class A common stock put volume heavy and directionally bearish
- Galaxy Digital Sets April 28 Webcast to Unveil Q1 2026 Results
- Crypto Currents: Strategy buys $1B in bitcoin as digital asset treasuries grow
- Crypto Currents: Potential buyers reportedly looking at Gemini assets
- Galaxy Digital price target lowered to $55 from $60 at Citizens