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MicroStrategy (NASDAQ:MSTR) is experiencing a surge today following BTIG’s bombshell – an upward revision of their price target for the tech and cryptocurrency powerhouse.
This seismic shift sees BTIG analyst Andrew Harte catapult the target from $780 to a staggering $1,800 per share, signaling potential gains of 11.4% over the preceding closing price. This stands in stark contrast to the consensus estimate of $1,074 per share.
Furthermore, Harte stands firm on BTIG’s “buy” recommendation for MSTR, further underlining the consensus “buy” forecast by five analysts.
Decoding the Bullish Sentiment for MSTR Stock
The rationale behind BTIG’s bullish outlook on MicroStrategy can be distilled into three key points:
- The surge in Bitcoin prices synergizes with the company’s asset strategy.
- The progressive capital raises enhance the Bitcoin-to-share ratio for investors.
- The “implied premium” of MicroStrategy’s Bitcoin holdings has surged by over 2x, a significant leap from the average 1.5x recorded last year.
Despite these titanic shifts, MSTR stock has only nudged upwards today with over 189,000 shares traded, still short of its standard daily volume of approximately 2.3 million shares.
For investors hungry for more market updates, a plethora of hot news awaits, from the likes of Shockwave Medical (NASDAQ:SWAV), Contineum Therapeutics (NASDAQ:CTNM), to Nutex Health (NASDAQ:NUTX) – all ripe for a deep dive!
Fresh Market Insights for Friday
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2024/04/btig-just-massively-raised-its-price-target-on-microstrategy-mstr-stock/.
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