Canaccord Analyst Raises MicroStrategy Price Target by 35%
On August 25, Canaccord analyst Joe Vafi raised the price target for MicroStrategy (MSTR) stock from $130 to $175—a 34.6% increase—while maintaining a Buy rating. The move comes as Bitcoin has rebounded after hitting lows in June, helping reduce the company's paper losses on its large BTC holdings. MicroStrategy, led by Michael Saylor and now known simply as Strategy, holds approximately 840,447 BTC valued at $63.36 billion with an average purchase price of around $75,385 per coin. As Bitcoin trades near $78,760, the company is sitting on a $2.84 billion unrealized profit after previously facing significant losses during the crypto downturn. Vafi noted that both MicroStrategy's common and preferred shares have become more resilient following recent market tests. He expects BTC to rise by about 20% over the next year and for Strategy’s mNAV (Multiple of Net Asset Value) to return to around 1.2x from its current level of 1.04x.
Tickers: $MSTR
Topics: Bitcoin MicroStrategy Stock Analysis