According to @stocktalkweekly, Piper Sandler raised Galaxy Digital (GLXY) price target to 42 dollars from 36 dollars and named the stock its Favorite Stock for Q4 in its 2025 FSG Fourth Quarter Favorites report; source: @stocktalkweekly citing Piper Sandler. The new target represents roughly 15x 2027E Adjusted Gross Profit versus about 14x previously and sits at the midpoint of power approval scenarios in the updated sum of the parts analysis; source: @stocktalkweekly citing Piper Sandler. Model updates include an incremental 1 GW of potential power capacity at Helios via the purchase of adjacent land, a higher Helios CapEx assumption of about 15 million dollars per critical IT MW versus 14 million dollars prior, and a higher 15x EV EBITDA terminal multiple in DCF from 13x on increased confidence in Helios execution; source: @stocktalkweekly citing Piper Sandler. Piper Sandler added that the 15x terminal multiple remains at a steep discount to DLR and EQIX; source: @stocktalkweekly citing Piper Sandler. The framework highlights Helios power approval outcomes and CapEx per MW as key valuation variables for GLXY under the updated SOTP and DCF; source: @stocktalkweekly citing Piper Sandler.