Lance Vitanza, an analyst from TD Cowen, maintained the Buy rating on Strategy. The associated price target is $680.00.
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Lance Vitanza has given his Buy rating due to a combination of factors that highlight Strategy’s robust financial activities and strategic positioning. The recent uptick in activity, particularly with significant issuance under three of Strategy’s preferred stock ATMs, indicates a strong market presence and investor confidence. This is further supported by the successful trading of the new STRC offering in the secondary market, suggesting potential for additional issuance as the year progresses.
Moreover, Strategy’s strategic acquisition of 430 bitcoins for $51.4 million, funded through the issuance of preferred stock, demonstrates a proactive approach to leveraging market opportunities. Despite the common shares experiencing a downturn during the summer, Vitanza takes a long-term perspective, anticipating significant growth and positive developments in the bitcoin sector, which underpins the Buy rating.
In another report released on August 11, Mizuho Securities also maintained a Buy rating on the stock with a $586.00 price target.