In a report released yesterday, Mark Palmer from Benchmark Co. reiterated a Buy rating on Microstrategy (MSTR – Research Report), with a price target of $650.00.
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Mark Palmer has given his Buy rating due to a combination of factors related to Microstrategy’s strategic focus and financial performance. The company’s decision to rename itself as “Strategy” underlines its unwavering commitment to aggressively acquiring bitcoin, as evidenced by their increased BTC Yield target for 2025. This target has been raised to a minimum of 15%, reflecting a substantial increase from the previous range of 6-10%, and demonstrates the company’s confidence in continuing its capital-raising efforts to fund these acquisitions.
Moreover, the introduction of new key performance indicators, namely BTC Gain and BTC $ Gain, offers investors a clear view of the value generated from Microstrategy’s bitcoin treasury operations. Despite a projected decrease in the BTC $ Gain target for 2025 compared to 2024, the company’s ongoing focus on bitcoin acquisition remains intact. Additionally, Microstrategy’s strategic shift towards emphasizing fixed income issuance in 2025, alongside its significant bitcoin holdings, further reinforces Palmer’s positive outlook, leading to the reiterated Buy rating and a price target of $650.
According to TipRanks, Palmer is ranked #335 out of 9370 analysts.
In another report released today, Barclays also maintained a Buy rating on the stock with a $515.00 price target.