Benchmark Co. analyst Mark Palmer has reiterated their bullish stance on 3350 stock, giving a Buy rating on September 19.
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Mark Palmer has given his Buy rating due to a combination of factors that highlight Metaplanet KK’s strategic positioning and financial flexibility. Despite a recent decline in its stock price, Metaplanet has secured $1.4 billion in new capital and received shareholder approval to issue perpetual preferred stock. This financial maneuvering allows the company to continue its aggressive bitcoin accumulation strategy, positioning itself strongly in the market.
Additionally, Metaplanet’s approach is supported by the broader institutional adoption of bitcoin, which remains a valuable reserve asset in an inflationary global economy. The company’s recent acquisition of 5,419 bitcoins, its largest purchase to date, further solidifies its standing as a major player among public corporate bitcoin holders. Palmer’s Buy rating is also backed by a sum-of-the-parts analysis, which considers the market value of Metaplanet’s bitcoin holdings, its hotel business, and its bitcoin income generation business, leading to a price target of J¥2,400.
In another report released on September 19, Chardan Capital also initiated coverage with a Buy rating on the stock with a Yen1,455.00 price target.