MSTR Surges 13.43% as Wall Street Firms Raise Price Targets

MicroStrategy's (MSTR) stock price has surged by 13.43% after several major Wall Street firms raised their price targets for the company, citing its significant dry powder for bitcoin purchases and balance-sheet needs.

The firms, including Bernstein, B. Riley, Canaccord, Barclays, and Alliance Global, have set target prices ranging from $160 to $217, with Bernstein still at $350. The average target is around $230.83, significantly above recent trading levels.

Alliance Global's call has been particularly notable, highlighting that MicroStrategy controls about 845,050 BTC, or roughly 4% of total supply, and arguing that MSTR can outperform bitcoin itself via yield-generating strategies during a projected 6-18 month BTC bull run.

MicroStrategy's balance sheet shows a total of $5.1B in USD reserves and over $1.3B-$1.44B in cash, with the company also launching a $1.59B USD Cash liquidity pool to fund future bitcoin purchases and debt service.