Mizuho Securities Raises Price Target on Microstrategy, Inc. (MSTR) After Meeting with Management
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Mizuho Securities reiterated a Buy rating on MicroStrategy (NASDAQ: MSTR), and raised the price target to $220.00 (from $190.00), after meeting with management. Conversations with the team helped reaffirm views that the company's turnaround is moving in the right direction. MSTR has been very clear that the transition process will not be smooth, however, a market opportunity exists that the company can capitalize on with its differentiated product offering.
Analyst Abhey Lamba commented, "Our meetings with management were positive and indicated continued progress on the turnaround. Although the company has tougher compares for 4Q16, we think 2017 is setting up well. Additionally, if we get tax relief on cash repatriation from the new administration, we could see management unlock some shareholder value by buying back stock or issuing a dividend, both of which would be positive. We are raising our PT to $220 from $190 while reiterating our Buy rating."
Shares of MicroStrategy closed at $192.11 yesterday.
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