Bernstein analyst cuts MicroStrategy price target but sees significant upside
On August 25, Bernstein analyst Gautam Chhugani reduced the price target for MicroStrategy (MSTR) from $450 to $350 while maintaining an 'Outperform' rating. The adjustment was based on updated Bitcoin cycle expectations and equity dilution concerns. Despite this cut, the new target still implies a 176% upside from MSTR's closing price of $126.83 as of August 24. Chhugani expects Bitcoin (BTC) to reach around $125,000 by year-end and potentially hit an all-time high of $150,000 in mid-2027 under base scenarios. He also projected BTC could climb as high as $300,000 in 2029 or even reach $1 million by 2033 in a bull case scenario. MicroStrategy holds the largest Bitcoin treasury with over 840,000 BTC on its balance sheet. The company's strong financial position is expected to support interest and dividend obligations for nearly four years.
Tickers: $MSTR
Topics: Bernstein Analyst Bitcoin Stock Price Targets Strategy Inc.