Strategy shares moved higher in premarket trading Friday as Bitcoin extended its recovery above $86,000. The gain came after Citi upped its price target for MSTR stock to $240 up from $136.
Citi Raises MSTR Stock Target As Bitcoin Outlook Improves
The upgrade in Strategy stock price represents a whopping 76% increase from the previous target. Moreover, it signals a nearly 64% rally from the current MSTR stock price around $159.
Two key factors have driven Citi’s new valuation. The bank believes that Bitcoin will make up approximately 34% of Bitcoin’s upside over the next year. An additional 16% is linked to an increase in Strategy’s market net asset value multiple.
The bank also increased the assumption of its…
