Canaccord Genuity has reaffirmed its "Buy" rating onGalaxy Digital Holdings(OTC:BRPHF), maintaining its price target at CA$17.00.

This decision follows Galaxy Digital's performance in the first quarter of 2024, showcasing significant growth across its various business segments.

Strong Q1 Performance

Galaxy Digital reported a robust first quarter, with total net income increasing by 40% quarter-over-quarter to $422 million.

This performance was driven by net realized gains on digital assets and substantial growth in fee revenue, lending, and staking income.

The company's equity capital and book value per share rose by 22% and 25%, respectively, to $2.2 billion and CA$9.11 by the...