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Analysts Raise Price Targets Amid Strong Market Outlook
The post Analysts Raise Price Targets Amid Strong Market Outlook appeared on BitcoinEthereumNews.com. MicroStrategy (MSTR), the software company founded by Michael Saylor, remains one of the best ways that equity investors can gain exposure to bitcoin (BTC) given the company’s intelligent leverage strategy, broker Canaccord stated in a research report on Thursday. The broker raised its MicroStrategy price target to $300 from $173 while maintaining its buy rating. Notably, the stock rose 0.4% to $245.50 in early trading Friday. “If stock price is the true test for any business model, then in our view MSTR is hard to beat,” analysts led by Joseph Vafi wrote. Since the firm adopted its bitcoin acquisition strategy in 2020, it has remarkably outperformed both equities and Bitcoin. MicroStrategy also recently announced financial results for the three-month period ended September 30, 2024. The press release stated– “Our focus remains to increase value generated to our shareholders by leveraging the digital transformation of capital. Today, we are announcing a strategic goal of raising $42 billion of capital over the next 3 years, comprised of $21 billion of equity and $21 billion of fixed-income securities, which we refer to as our “21/21 Plan.” As a Bitcoin Treasury Company, we plan to use the additional capital to buy more bitcoin as a treasury reserve asset in a manner that will allow us to achieve higher BTC Yield,” said Phong Le, President and Chief Executive Officer, of MicroStrategy. The authors also wrote that MicroStrategy’s leverage strategy “provides the potential for additional premium to spot to re-emerge in MSTR shares.” Benchmark analyst Mark Palmer recently also followed and lifted the price target for MicroStrategy stock to $300 from $245 “If there were any doubts that MicroStrategy (MSTR) would lean into its Bitcoin acquisition strategy amid a rising Bitcoin market, they were dispelled” by the Oct. 30 announcement, Benchmark fintech analyst Mark Palmer told…
The post Analysts Raise Price Targets Amid Strong Market Outlook appeared on BitcoinEthereumNews.com.
MicroStrategy (MSTR), the software company founded by Michael Saylor, remains one of the best ways that equity investors can gain exposure to bitcoin (BTC) given the company’s intelligent leverage strategy, broker Canaccord stated in a research report on Thursday. The broker raised its MicroStrategy price target to $300 from $173 while maintaining its buy rating. Notably, the stock rose 0.4% to $245.50 in early trading Friday. “If stock price is the true test for any business model, then in our view MSTR is hard to beat,” analysts led by Joseph Vafi wrote. Since the firm adopted its bitcoin acquisition strategy in 2020, it has remarkably outperformed both equities and Bitcoin. MicroStrategy also recently announced financial results for the three-month period ended September 30, 2024. The press release stated– “Our focus remains to increase value generated to our shareholders by leveraging the digital transformation of capital. Today, we are announcing a strategic goal of raising $42 billion of capital over the next 3 years, comprised of $21 billion of equity and $21 billion of fixed-income securities, which we refer to as our “21/21 Plan.” As a Bitcoin Treasury Company, we plan to use the additional capital to buy more bitcoin as a treasury reserve asset in a manner that will allow us to achieve higher BTC Yield,” said Phong Le, President and Chief Executive Officer, of MicroStrategy. The authors also wrote that MicroStrategy’s leverage strategy “provides the potential for additional premium to spot to re-emerge in MSTR shares.” Benchmark analyst Mark Palmer recently also followed and lifted the price target for MicroStrategy stock to $300 from $245 “If there were any doubts that MicroStrategy (MSTR) would lean into its Bitcoin acquisition strategy amid a rising Bitcoin market, they were dispelled” by the Oct. 30 announcement, Benchmark fintech analyst Mark Palmer told…
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