Canaccord raised the firm’s price target on MicroStrategy to $2,047 from $1,590 and keeps a Buy rating on the shares. The firm notes the company’s equity premium to its HODL value has remained resilient, hovering at ~100% according to their calculations and despite macro fluctuations. Canaccord views this as indicative of true investor appreciation for the accretive Bitcoin acquisition model the company has put in place.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSTR:
- Here’s What You Missed in Crypto This Week
- Ethereum spot ETFs approved by SEC, Crypto Briefing says
- SEC’s Gensler urges against crypto bill adoption ahead of vote, The Block says
- 3 Best Crypto Stocks to Buy in May 2024, as per Analysts
- Crypto Roundup: MSTR’s MSCI Inclusion; Hong Kong ETFs; COIN’s Australia Move