Morgan Stanley raised the firm’s price target on Galaxy Digital (GLXY) to $37 from $36 and keeps an Overweight rating on the shares. Galaxy has successfully delivered the first Phase 1 data hall to CoreWeave (CRWV) on-time and on-budget, notes the analyst, who sees data center builds progressing as planned. The firm also calls out Galaxy’s “impressive Digital Assets performance against a weak crypto backdrop.”
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