In a report released today, Lance Vitanza from TD Cowen maintained a Buy rating on Strategy, with a price target of $535.00.
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Lance Vitanza has given his Buy rating due to a combination of factors including Strategy’s recent successful IPO of Euro-denominated preferred stock, which significantly exceeded expectations by raising €620 million. This move not only highlights the company’s ability to tap into new capital sources but also positions it as an attractive option for investors seeking bitcoin exposure with potentially less volatility than direct bitcoin holdings or ETFs.
Furthermore, the funds raised from this IPO are expected to be used to purchase additional bitcoin, enhancing Strategy’s bitcoin holdings without diluting common equity. This strategic expansion into the European market and the anticipated increase in bitcoin assets underscore the company’s growth potential and justify the Buy rating. Vitanza’s analysis suggests that Strategy’s innovative financial maneuvers and market positioning make it a compelling investment opportunity.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $484.00 price target.
Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is neutral on the stock.