Brokerage BTIG raised MicroStrategy stock price target to $1,800 from $780
According to Mars Finance news, brokerage BTIG said in a research report on Friday that MicroStrategy has a good track record of creating value for shareholders and reiterated its buy rating on the stock and raised its target price from $780. to $1,800.
Analysts Andrew Harte and Thomas Smith wrote that MicroStrategy shares are up 155% this year, mainly due to a 50% rise in Bitcoin prices, increasing financing, and the implied premium of MicroStrategy’s Bitcoin positions has increased from 1.5 last year. Factors such as rising from about times to more than twice.
In a sum-of-the-parts (SOTP) valuation analysis of the company, investors expressed support for a higher implied Bitcoin premium, the report said, noting that while this premium was elevated compared to historical levels, But “Investors have shown a willingness to invest on the back of premiums.” (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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