Analyst Lance Vitanza of TD Cowen maintained a Buy rating on Strategy, retaining the price target of $620.00.
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Lance Vitanza has given his Buy rating due to a combination of factors that highlight Strategy’s strong position in the evolving global Bitcoin landscape. The company has significantly increased its Bitcoin holdings, with a notable rise of over 5% in the third quarter alone and nearly 26% year-to-date. This aggressive accumulation strategy positions Strategy well for potential gains as Bitcoin adoption continues to accelerate worldwide.
Vitanza also notes the unexpected speed at which Bitcoin is being integrated into global financial systems, which enhances the prospects for its widescale adoption. The recent prediction by the Deutsche Bank Research Institute that Bitcoin could be included alongside gold in central bank reserves by 2030 further supports this optimistic outlook. These developments suggest a promising future for Bitcoin, and by extension, for Strategy, justifying the Buy rating.
According to TipRanks, Vitanza is a 5-star analyst with an average return of 25.3% and a 54.17% success rate. Vitanza covers the Communication Services sector, focusing on stocks such as Liberty Media Liberty Formula One, Clear Channel Outdoor, and TKO Group Holdings.
In another report released on September 15, Bernstein also maintained a Buy rating on the stock with a $600.00 price target.