MicroStrategy price target raised to $450 from $300 at Benchmark

Benchmark analyst Mark Palmer raised the firm’s price target on MicroStrategy (MSTR) to $450 from $300 and keeps a Buy rating on the shares. While MicroStrategy’s “controversial” bitcoin acquisition strategy has “attracted many detractors,” its “dramatic impact on the company’s share price has provided ample justification,” argues the firm, which points out that the company’s stock has “outperformed those of almost every large company in the U.S. during the past four-plus years.”