Investment bank Stifel gives Galaxy Digital a buy rating and a price target of C$20

Investment bank Stifel (SF) stated in a research report on Wednesday that Galaxy Digital should be a core holding for stock investors looking to enter the digital asset ecosystem. Stifel has given a buy rating with a target price of 20 Canadian dollars. Galaxy fell 4.7% to close at 13.11 Canadian dollars on Thursday. Analysts Bill Papanastasiou and Suthan Sukumar stated that "the company has asymmetric return characteristics, significant principled risk exposures compared to Bitcoin and Ethereum, and diversified revenue streams in trading, investment banking, and asset management. Through its infrastructure solutions division, it has long-term potential for massive growth."