Analyst Lance Vitanza from TD Cowen maintained a Buy rating on Strategy (MSTR – Research Report) and keeping the price target at $550.00.
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Lance Vitanza has given his Buy rating due to a combination of factors, primarily focusing on Strategy’s recent financial maneuvers. The introduction of a new fixed income instrument is perceived as beneficial for MSTR’s common shares, as it enables the company to accelerate its bitcoin acquisitions without relying heavily on its common stock ATM over an extended period.
Additionally, the issuance of a new class of preferred stock, alongside common stock and STRK preferred shares, has resulted in significant capital influx. This capital was strategically used to purchase a substantial amount of bitcoin, enhancing the company’s bitcoin yield. The positive outlook on bitcoin further supports the attractiveness of MSTR, making it a compelling buy for investors optimistic about bitcoin’s future performance.
In another report released on March 25, Bernstein also reiterated a Buy rating on the stock with a $600.00 price target.