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Benchmark Reiterates Buy Rating on MicroStrategy (MSTR)

January 6, 2025 8:04 AM EST

Benchmark analyst Mark Palmer reiterated a Buy rating and $650.00 price target on MicroStrategy (NASDAQ: MSTR).

The analyst comments "The audacious 21/21 Plan that MicroStrategy (MSTR) unveiled in conjunction with the release of its 3Q24 report outlined the companys intention to issue $21bn of equity and $21bn of fixed income instruments, including debt, convertible notes and preferred stock, over the next three years, with the proceeds earmarked for increasing its bitcoin hoard. While MSTR during 2024 fueled its bitcoin purchases with issuances of stock and convertible bonds, the company on Friday after the market close... More