MicroStrategy Is 'Aggressive' With 'BTC HODL', Analyst Says, Citing New Bitcoin Buys
Portfolio Pulse from Murtuza Merchant
Canaccord Genuity has lowered its price target for MicroStrategy (MSTR) from $185 to $173, while maintaining a Buy rating. The adjustment is due to MicroStrategy's aggressive Bitcoin acquisition strategy, with over $1.1 billion in Bitcoin purchased recently. Despite the lower target, Canaccord remains optimistic about MicroStrategy's strategy and the Bitcoin market.
September 16, 2024 | 1:33 pm
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Canaccord Genuity has revised MicroStrategy's price target from $185 to $173 due to its aggressive Bitcoin acquisition strategy. Despite the lower target, the Buy rating is maintained, reflecting optimism about the company's strategy and the Bitcoin market.
The price target was lowered due to the company's aggressive Bitcoin acquisition, which could impact its financials. However, the Buy rating suggests confidence in the strategy and potential Bitcoin market growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100