MicroStrategy (MSTR) Stock Price To Hit $300 Amid $42B Bitcoin Buying Plan
Canaccord raised its price target for MicroStrategy stock (MSTR) to $300 from $173, as it keeps a “Buy” rating on the stock. The firm noted that MicroStrategy announced a $21 billion ATM stock offering that management intends to utilize, along with selective fixed-income offerings, to fund up to $42 billion of Bitcoin purchases over the next three years.
Canaccord sounded quite confident in this approach, underlining that it fits well with it’s long-term strategy to take advantage of the appreciation in the value of Bitcoin.
MicroStrategy Stock a “Buy” – Canaccord
Canaccord recently upped the price target for MicroStrategy stock to $300 from $ 173 while leaving its…
