Citi upgrades Galaxy Digital to Buy and lifts price target to $28
Citigroup raised its rating on Galaxy Digital from Neutral to Buy and increased the price target from $26 to $28. Analyst Peter Christiansen cited stronger-than-expected economics at the Helios I AI data center and the prospect of a Helios II tenant announcement within six months. The upgrade came as the stock fell more than 2% after the note, despite a 52% decline over the past year.
Why it matters
Citi’s target implies roughly 41% upside from the last closing price, offering a potential catalyst for investors seeking exposure to crypto infrastructure and AI data center growth. The firm also highlighted that a new tenant at Helios II could improve revenue visibility and earnings power.
Key facts
- 1Citi upgraded Galaxy Digital to Buy from Neutral. econotimes.com
- 2The price target was raised from $26 to $28, a 7.69% increase. econotimes.com
- 3Analyst Peter Christiansen linked the upgrade to stronger economics at the Helios I AI data center. econotimes.com
- 4Citi expects a potential Helios II data center tenant announcement within the next six months. econotimes.com
- 5Galaxy Digital shares fell more than 2% during Tuesday morning trading after the upgrade. econotimes.com
- 6Shares have plunged nearly 52% over the past 12 months. cnbc.com
Open questions
- Material 1 states the previous closing price was $19.87, while Material 3 lists the current trading price at $20.10, creating a conflict on the exact prior price.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.