Crypto
Strategy Stock Soars on Bitcoin Rally, Price Target Raised to $175
After a brutal stretch, Strategy's stock has started to win back believers. Canaccord Genuity recently raised its price target from $130 to $175 and kept a 'Buy' rating on MSTR stock.
Analyst Joseph Vafi said the company's balance sheet is now 'war-chested' with enough cash to do more than just cover its dividends.
Strategy, formerly known as MicroStrategy and chaired by Michael Saylor, is the world's largest corporate holder of Bitcoin.
The stock jumped about 12% on Aug. 27 as the cryptocurrency rallied above $80,000.