Canaccord Boosts Strategy Stock Price Target on Bullish Bitcoin Outlook

Canaccord has raised its price target for Strategy stock (NASDAQ:MSTR) to $179 from $175, maintaining a Buy rating. The increase is based on the firm's expectation of approximately 20% appreciation in Bitcoin over the next year. This target also takes into account the company's modified net asset value, which currently sits at around 1.15 times its previous level.

The new price target assumes that Strategy will continue to hold significant Bitcoin reserves on its balance sheet and benefit from potential price increases. The stock has shown considerable volatility in recent months, with shares down 56.7% over the past year despite a strong 14.4% gain in the last week.

Other analysts have offered differing views on Strategy's stock, with Bernstein SocGen Group reducing its price target to $350 from $450 and Cantor Fitzgerald lowering its target to $186 from $212 due to more conservative Bitcoin price forecasts.