Galaxy Digital price target raised to $40 from $38 at Benchmark

Benchmark raised the firm’s price target on Galaxy Digital (GLXY) to $40 from $38 and keeps a Buy rating on the shares. The Q2 report, Galaxy Digital’s first quarterly print since redomiciling in the U.S. and listing its shares on Nasdaq, “offered a clear signal that the company is entering a new era,” the analyst tells investors. The firm believes the downdraft post-earnings was a “sell-the-news” reaction after shares had almost tripled since early April, but adds that the report “reflected the company’s accelerated evolution as a hybrid digital asset/AI data center platform.”