Canaccord Genuity Lowers MicroStrategy Target Price, Maintains Buy Rating
Portfolio Pulse from Murtuza Merchant
Canaccord Genuity has lowered its target price for MicroStrategy (NASDAQ:MSTR) from $2,047.00 to $1,826.00 while maintaining a buy rating. The adjustment reflects a recent decline in Bitcoin prices and a slight contraction in the premium of MicroStrategy's equity value relative to its Bitcoin holdings. Despite this, analysts remain optimistic about the company's long-term prospects due to its strategic Bitcoin acquisition approach.
June 24, 2024 | 3:46 pm
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Canaccord Genuity has revised its target price for MicroStrategy from $2,047.00 to $1,826.00 while maintaining a buy rating. The adjustment reflects a recent decline in Bitcoin prices and a slight contraction in the premium of MicroStrategy's equity value relative to its Bitcoin holdings. Despite this, analysts remain optimistic about the company's long-term prospects due to its strategic Bitcoin acquisition approach.
The target price adjustment reflects current market conditions, including a decline in Bitcoin prices. However, the maintained buy rating indicates continued confidence in MicroStrategy's long-term strategy and potential for Bitcoin appreciation.
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