Canaccord raised the firm’s price target on Strategy (MSTR) to $474 from $464 and keeps a Buy rating on the shares. The firm said the company is almost synonymous with Bitcoin but feels the model has evolved at an accelerating rate since then, culminating to date with the highly successful rollout of minimally dilutive preferred equity. Clearly BTC spot has to trend higher for the shares to continue to work over the medium/long term, but they like the supply/demand setup for bitcoin over time.
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