Citi Raises MSTR Target to $240 on Higher BTC Forecast and Premium Expansion

Citi has raised its price target for Strategy (MSTR) to $240 from $136, while maintaining a Buy rating on the stock. This revision follows the bank's higher Bitcoin forecast, with Citi now expecting BTC to reach approximately $113,400 over the next 12 months.

The new MSTR target represents a 76.5% increase from Citi's previous estimate of $136. With Strategy closing around $160.50 on October 1, a move to $240 would require roughly another 49.5% gain.

Citi sees about 34% of MSTR's potential upside coming from Bitcoin appreciation, which accounts for the majority of the bank's assumed increase in value. This assumption follows Citi's decision to raise its 12-month Bitcoin target by roughly 39%, from $82,000 to approximately $113,400.