MicroStrategy price target raised to $300 from $245 at Benchmark
The Fly

MicroStrategy price target raised to $300 from $245 at Benchmark

Benchmark analyst Mark Palmer raised the firm’s price target on MicroStrategy (MSTR) to $300 from $245 and keeps a Buy rating on the shares. Any doubts there may have been that MicroStrategy would lean into its bitcoin acquisition strategy were dispelled yesterday after the market close when the company, in conjunction with the release of its Q3 report, announced a strategic plan aimed at raising $42B over the next three years and using all of it to acquire bitcoin, the analyst tells investors. The “21/21 Plan” initiative includes raising $21B from equity issuances through a newly announced at-the-market facility, which the firm calls out as “the largest such facility in the history of the U.S. capital markets,” and raising another $21B from the issuance of fixed income securities, the analyst noted.

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