H.C. Wainwright analyst Mike Colonese lowered the firm’s price target on Galaxy Digital (GLXY) to $40 from $45 and keeps a Buy rating on the shares. The firm sees an attractive buying opportunity after shares tumbled on weaker-than-expected Q4 results. While the crypto bear market has been a headwind, the potential passage of crypto market structure legislation and the monetization of its data center business, which is on track to recognize revenue from its CoreWeave (CRWV) lease in the coming weeks, are identifiable near-term positive catalysts, the analyst added.
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