MicroStrategy price target raised to $613 from $581 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on MicroStrategy (MSTR) to $613 from $581 and keeps an Overweight rating on the shares. MicroStrategy “delivered a record year” in terms of Bitcoin (BTC) treasury operations, adding 258,320 Bitcoin during 2024, the analyst tells investors. Bitcoin per share increased by 74.3% and the market value of its Bitcoin position increased by 414.5%, adds the analyst, who notes that in the middle of 2024 the company’s long-term target was for it to own 1% of all Bitcoin that will ever be created and pointing out the the company “is already at 2.1%.”