Benchmark Maintains Buy Rating on Microstrategy (MSTR), Target $570—Up 406%

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According to The Block, Benchmark Equity Research reaffirmed its buy rating on Microstrategy (MSTR) earlier this week, maintaining a $570 price target unchanged. The target implies a 406% upside from Friday's close of $112.53. Although MSTR's perpetual preferred stock STRC fell sharply last week to as low as $83, analyst Mark Palmer stated the decline reflects market repricing of required yields rather than a de-peg event. STRC is backed by MSTR's 847,000 Bitcoin holdings (approximately $55 billion). The company holds $1.4 billion in cash reserves available to support dividend payments.
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