TLDR
- Strategy (MSTR) stock trades at $151.29, down about 10% on the day.
- Cantor Fitzgerald raised its price target to $208 from $186 and kept an Overweight rating.
- The new target assumes bitcoin at $112,000 in 12 months, up from $98,000.
- Strategy conditionally declared daily STRC dividends for November at a 12% annual rate.
- Strategy holds 848,250 BTC after adding 250 bitcoin for $21.5 million last week.
Strategy (MSTR) stock was trading at $151.29 on Friday, down about 10% on the day. Cantor Fitzgerald still raised its price target.
The firm lifted its target to $208 from $186 and kept its Overweight rating. That number sits well above where the stock trades now.
Cantor updated its model for Strategy’s latest bitcoin holdings and dollar reserves. It also counted a $20.91 billion gain on digital assets and a $1.88 billion deferred tax expense.
The target uses a sum-of-the-parts valuation. It applies 2x enterprise value to sales on 2027 estimated sales of $509 million.
It also adds a 12-month forward bitcoin price of $112,000 on 848,000 bitcoin. Cantor had used $98,000 before.
Together, that puts enterprise value at $110 billion, up from $97 billion. The firm says it has a more bullish view on bitcoin after recent market strength.
Other analysts weigh in
Cantor is not alone. Citi raised its target to $240 from $136, based on a higher bitcoin forecast and growth in net asset value.
StoneX reiterated its Buy rating with a $435 price target. That is the high end of the analyst range.
Bernstein stays upbeat on some digital asset stocks despite the failure of the CLARITY Act. It expects clarity from the CFTC and SEC and likes tokenization names.
Cantor’s research note also said fintech and digital asset firms have called Q3 expectations well. It pointed to resilient consumer spending despite macro uncertainty.
InvestingPro data shows MSTR has a beta of 3.57. That means the stock tends to swing harder than bitcoin itself.
STRC gets a daily dividend plan
Strategy conditionally declared daily dividends on its STRC preferred stock for November. They need shareholder approval and related amendments to take effect.
The board declared cash dividends for each calendar day from Nov. 1 to Nov. 30, with payments starting Nov. 2. Each one is payable on the business day after its record date, according to an 8-K filing.
The annualized rate stays at 12%. Management will keep recommending that rate until STRC shows “sustained, healthy trading near $100 per share.”
STRC is one of the main ways Strategy funds bitcoin purchases. Daily payouts could help it trade closer to its $100 par value.
During the week ending Oct. 4, Strategy bought back $176 million of STRC. That was more than six times the $28 million it spent on bitcoin.
Last week, Strategy added 250 bitcoin for $21.5 million, bringing its holdings to 848,250 BTC. STRC was down 0.2% on Friday at $99.32 as of 1:36 pm UTC.
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