Canaccord analyst Joseph Vafi lowered the firm’s price target on Strategy (MSTR) to $409 from $510 and keeps a Buy rating on the shares. The firm said the company’s 2025 setup is continuing to push the envelope on the corporate treasury strategy on acquiring bitcoin while noting an upped BTC yield guidance framework, the successful preferred stock issuance, and a corporate name change to simply Strategy but seeing the equity premium retracement to around 100% from around 200%.
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Read More on MSTR:
- MicroStrategy’s Strategic Shift and Financial Highlights
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- MSTR Earnings: MicroStrategy Misses Estimates but Introduces New KPI and Accounting Method
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- MicroStrategy (MSTR) Rebrands with New Name ‘Strategy’ Ahead of Earnings