Benchmark analyst Mark Palmer has raised his price target for MSTR stock to $245 per share from $215.
MicroStrategy (MSTR) shares are set for further gains even though the stock already trades at a 2.3x premium to the net asset value (NAV) of the company’s Bitcoin (BTC) portfolio, according to an Oct. 18 analyst report shared with Cointelegraph.
The company’s stock, MSTR, could be worth $245 per share if MicroStrategy continues to leverage its balance sheet to buy more BTC and starts lending out the digital currency for low-risk yield, according to Benchmark fintech analyst Mark Palmer.
Shares of MSTR currently trade at around $206. Palmer raised his price target for MSTR from his previous estimate of $215.
