With financing questions surrounding its Bitcoin (BTC) purchases, Strategy Inc. received a higher $211 price target from Clear Street, up from $201.
Clear Street kept its Buy rating on Strategy. It said the company’s financial position had improved during much of the third quarter, which could make another preferred-stock offering feasible.
Benzinga reported that Clear Street was concerned new common-share issuance diluted existing ownership as Strategy added BTC. TheFly reported that Clear Street viewed third-quarter share sales as supporting preferred-stock repurchases and dollar reserves. An earlier EconoTimes report on the target revision and dilution concerns covered those financing issues.
Strategy plans to release its third-quarter results after U.S. markets close Oct. 29 and hold a webinar at 5 p.m. ET.
