Key facts
- Cantor Fitzgerald raised MicroStrategy's price target to $208.
- MicroStrategy's enterprise value estimate increased to $110 billion.
- MSCI will announce its index exclusion list on November 11.
Cantor Fitzgerald has raised its price target for MicroStrategy (MSTR) to $208 from $186, maintaining an "Overweight" rating. The firm also increased its 12-month Bitcoin price forecast to $112,000 from $98,000, reflecting growing confidence in the cryptocurrency. MicroStrategy reportedly holds approximately 848,000 BTC, with a recent purchase of 250 BTC. The firm's updated valuation places MicroStrategy's enterprise value at $110 billion, up from $97 billion. The stock price saw a decline of over 2% today, potentially due to concerns about MSCI index exclusion rules. MSCI will announce its final list of affected constituents on November 11, with new rules taking effect after the November 30 market close.