Canaccord Lifts Strategy Price Target Amid Bullish Bitcoin Outlook
Canaccord has raised its price target for Strategy (no ticker provided) stock to $179 from $175, while maintaining a Buy rating. The firm believes the shares are undervalued, trading at $142.80 below InvestingPro's Fair Value of $150.65.
The new price target assumes a 20% appreciation in Bitcoin on a forward twelve-month basis, according to Canaccord. This estimate incorporates a modified net asset value that retracts to approximately 1.2 times as the Bitcoin acquisition engine begins again.
Strategy's modified net asset value currently sits at approximately 1.15 times, having expanded from 1.0 times in recent weeks. The firm's price target methodology for Strategy common stock remains consistent with its previous approach, focusing on Bitcoin price appreciation and the company's net asset value multiple.