Galaxy Digital has room to run as the artificial intelligence and cryptocurrency company capitalizes on industry tailwinds, according to Morgan Stanley. The investment firm assigned Galaxy Digital’s stock an overweight rating. It also set a $42 price target per share, implying about 34% upside from Wednesday’s close. “We view Galaxy Digital as a compelling combination of 1) a nascent AI data center developer with a clear path to monetizing one of the largest single-campus [high-performance computing] data centers under development and 2) a blockchain-enabled investment bank,” James Faucette said Thursday in a note to clients. Galaxy is aiming to fully build out its Helios data center over the next few years, which could be one of the…
