Canaccord raised the firm’s price target on MicroStrategy (MSTR) to $300 from $173 and keeps a Buy rating on the shares. The firm noted they announced a $21B ATM offering. Management stated that it intends to use this vehicle, along with opportunistic fixed-income offerings, to acquire up to another $42B of bitcoin over the next three years and Canaccord believes the strategy makes sense.
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Read More on MSTR:
- MicroStrategy price target raised to $312 from $200 at Cantor Fitzgerald
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