From Investing.com:

Canaccord Genuity initiated coverage on Crypto stock Galaxy Digital (BRPHF) with a Buy rating and a one-year price target of C$17, suggesting a 28% upside from the last closing price. The company is seen as well positioned for an improving landscape of digital assets in 2024. Its institutional trading business is expected to be the main beneficiary and is considered to be a “share gainer” by Canaccord. The anticipated widespread launch of Galaxy One, its unique crypto prime brokerage platform, is expected to drive increased trading volumes. Additionally, approval of various spot BTC ETFs in the U.S. and the forthcoming Bitcoin halving are anticipated to push spot prices upwards, further benefiting Galaxy’s trading business. The company’s balance sheet is highly influenced by underlying cryptocurrency spot prices and is adjusted quarterly. As a result, the Q4 book value for Galaxy is expected to be significantly higher than in Q3.



Read more: Crypto stock Galaxy Digital new Buy at Canaccord By Investing.com