Strategy price target raised to $500 from $480 at Maxim

Maxim raised the firm’s price target on Strategy (MSTR) to $500 from $480 and keeps a Buy rating on the shares after the company announced a rebranding to the name Strategy, which it believes is better aligned with its dual focus as a bitcoin treasury company and a business intelligence software company. The firm, which anticipates Strategy will continue accumulating bitcoin through capital markets activity, most recently raising $584M in a convertible preferred stock offering that should begin trading on February 6, is raising its price target based on its 12-month estimated value of Strategy’s bitcoin holdings, plus the value of the core software business.