Citi Upgrades Galaxy Digital to Buy, Lifts Price Target to $28

Citi upgraded Galaxy Digital to buy from neutral Tuesday and raised its price target to $28 from $26 as cryptocurrency prices recover and efforts to achieve greater U.S. crypto regulatory clarity gain traction. Galaxy shares have fallen nearly 52% over the past year. The decline followed cascading liquidations of leveraged digital-asset positions that triggered a crypto downturn in October 2025. Galaxy’s artificial intelligence data center business could support the company’s shift toward infrastructure. Citi cited Helios I’s better-than-expected economics, increased conviction in Galaxy’s AI infrastructure plans and a potential Helios II tenant announcement within six months.