Canaccord Genuity Reaffirms 'Buy' Rating For Galaxy Digital Holdings With CA$17.00 Target
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 22 2024
0mins
Source: Benzinga
- Canaccord Genuity Reaffirms "Buy" Rating: Canaccord Genuity maintains its "Buy" rating on Galaxy Digital Holdings BRPHF with a price target of CA$17.00.
- Strong Q1 Performance: Galaxy Digital reported a 40% increase in total net income in the first quarter of 2024, driven by gains on digital assets and growth in fee revenue.
- Market And Trading Insights: The trading segment of Galaxy Digital saw significant growth in trading counterparties, revenue, and loan book size.
- Asset Management Growth: Galaxy Digital's asset management division experienced a 50% rise in assets under management (AUM) and launched new ETCs in partnership with DWS Group.
- Infrastructure Expansion: Galaxy Digital's mining hashrate increased by over 60%, and plans are in place to expand its mining facility in Texas for high-performance computing and AI hosting.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
