Wall Street Analysts Raise Strategy's Target Price... Positive Evaluation of 42/42 Plan
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Summary
- Strategy announced its 42/42 plan to raise $84 billion over the next two years to purchase Bitcoin.
- Mark Palmer, an analyst at Benchmark, positively evaluated Strategy's Bitcoin acquisition capability and raised the target price to $650.
- Lance Vitanza, an analyst at TD Cowen, also emphasized Strategy's strong trading liquidity and raised the target price to $550.
Recently, Strategy (formerly MicroStrategy) announced its 42/42 plan to raise $84 billion over the next two years to purchase Bitcoin (BTC), alongside its Q1 earnings. In response, many analysts have raised their target price for MSTR.
According to CoinDesk, a cryptocurrency-focused media outlet, Mark Palmer, an analyst at Benchmark, stated, "Strategy has proven its advantage as a leader in Bitcoin acquisition," and expressed confidence in the company's ability to accelerate additional purchases.
He further explained, "We have raised the target price for MSTR to $650."
Additionally, Lance Vitanza, an analyst at TD Cowen, noted, "Strategy's market value and strong trading liquidity enhance the credibility of the new fundraising plan," and raised the target price to $550.
