MicroStrategy price target raised to $245 from $215 at Benchmark

Benchmark raised the firm’s price target on MicroStrategy (MSTR) to $245 from $215 and keeps a Buy rating on the shares. The “most important evidence of the effectiveness” of MicroStrategy’s bitcoin acquisition strategy, and the likelihood that it will persist, is “the dramatic outperformance of its stock over the last four-plus years,” according to the analyst, who notes that the firm’s price target is based on a sum-of-the-parts analysis that combines the firm’s estimate of the year-end 2025 value of the company’s bitcoin holdings and its estimate of the year-end 2025 value of MicroStrategy’s enterprise software business.