Canaccord increases GLXY's list price from C $17 to C $23, maintaining buy rating

Broker Canaccord Genuity said in a research note on Monday that Galaxy Digital (GLXY), with its strong institutional presence, is well-positioned to benefit from continued adoption of digital assets on a structural basis, and raised its price target for the crypto financial services firm.
Canaccord raised its price target on Galaxy to C $23 from C $17 while maintaining its buy rating on the stock, which closed at C $16.25 on Friday.
Analysts led by Joseph Vafi wrote that due to digital asset prices hovering near all-time highs, some incremental gridlock on the regulatory front, good execution of GLXY's business, and some re-rating of partial aggregate (SOTP) valuations, we are raising our price target.