Strategy price target raised to $697 from $680 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Strategy (MSTR) to $697 from $680 and keeps an Overweight rating on the shares. Strategy posted a record quarter, with $14B in operating income and $10B in net income, the analyst tells investors in a research note. Cantor continues to view Strategy as the top pick in the Bitcoin treasury industry, as the firm believes the company’s Bitcoin position of 628,791 will likely never be matched by another treasury company.