Strategy initiated with a Buy at Texas Capital

Texas Capital initiated coverage of Strategy (MSTR) with a Buy rating and $200 price target Strategy was the founder and is the “clear leader” in digital asset treasury management, says the analyst, who notes that shares have seen volatility around Bitcoin (BTC-USD) prices, but adds that management remains dedicated to building BTC per share over time. The firm believes Bitcoin has become “a more established asset than many investors appreciate” due to a favorable regulatory shift with the Trump administration and the broadening of financial market and corporate adoption, adding that its analysis assumes 10% annual average BTC appreciation.