MicroStrategy price target raised by $50 at BTIG, here's why - InvestingChannel

MicroStrategy price target raised by $50 at BTIG, here’s why

BTIG raised the firm’s price target on MicroStrategy to $290 from $240 and keeps a Buy rating on the shares. In conjunction with the Q3 report, the company announced a $42B capital raising plan for the next three years, the analyst tells investors in a research note. The firm says MicroStrategy intends to raise $21B via equity offerings and $21B via fixed income instruments for the purpose of acquiring additional bitcoin. BTIG thinks MicroStrategy’s track record of a generating bitcoin yield by accretively raising capital to buy bitcoin, and plans to acquire $42B of additional bitcoin during the next three years are why the stock trades at a premium to the spot value of its bitcoin holdings.

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