Clear Street raised its price target for Strategy (MSTR) to $211 from $201 and kept its buy rating. The firm said Strategy had issued common stock to repurchase STRC shares and build its U.S. dollar reserves, but warned that stock issuance had outpaced Bitcoin accumulation, posing a risk especially to common shareholders.
With STRC trading near its $100 par value, Clear Street believes Strategy is positioned to resume issuing preferred securities and use the proceeds to increase its Bitcoin per share. That is the firm’s outlook, not a completed purchase. STRC holders are due to vote on a proposal for daily dividends; the daily dividends Strategy declared for November are conditional.
