Benchmark analyst Mark Palmer raised the firm’s price target on MicroStrategy (MSTR) to $450 from $300 and keeps a Buy rating on the shares. While MicroStrategy’s “controversial” bitcoin acquisition strategy has “attracted many detractors,” its “dramatic impact on the company’s share price has provided ample justification,” argues the firm, which points out that the company’s stock has “outperformed those of almost every large company in the U.S. during the past four-plus years.”
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Read More on MSTR:
- Closing Bell Movers: Super Micro up 28% on compliance update
- MicroStrategy announces $1.75B convertible senior notes offering
- MicroStrategy acquired 51,780 bitcoins for about $4.6B from Nov. 11-17
- MicroStrategy (MSTR) Buys $4.6 Billion of Bitcoin
- Microstrategy Achieves Notable BTC Yield Growth in 2024
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
