- TD Cowen analyst sees upside in MicroStrategy to $520.
- Lance Vitanza defined his bullish view in a analysis be aware.
- MicroStrategy stock has already tripled because the begin of 2023.
MicroStrategy Inc has already tripled because the begin of this 12 months however a TD Cowen analyst continues to see additional upside on this stock.
MicroStrategy stock might climb to $520
Lance Vitanza assumed protection of the software program firm immediately with an “outperform” ranking and stated its shares might climb to $520 – up one other 22% from right here.
For institutional traders, he stated in his analysis be aware, MicroStrategy stock is one of the best ways to achieve publicity to Bitcoin.
MSTR makes use of all its retained earnings after which some to purchase and maintain BTC [that] displays a perception that Bitcoin will show a superior retailer of worth relative to metals and fiat currencies.
The Nasdaq-listed agency is about to report its Q2 earnings subsequent week. Consensus is for it to lose 71 cents a share versus an alarming $92.81 per share a 12 months in the past.
MSTR trumps BTC or a Bitcoin ETF
The Virginia-based firm at present owns greater than 150,000 Bitcoin in whole.
Vitanza recommends MicroStrategy stock additionally as a result of it’s free from a few of the charges associated to investing immediately in Bitcoin or a Bitcoin ETF. He’s satisfied that its underlying enterprise serves as draw back safety as nicely.
We see MicroStrategy as a beautiful car for traders seeking to achieve Bitcoin publicity.
MicroStrategy is lobbying for a change in accounting guidelines associated to BTC which can additionally increase its financials. Bitcoin-specific catalysts, together with “halving” and approval of a spot bitcoin exchange-traded fund can even profit MSTR, the TD Cowen analyst concluded.
