Par for the course: MSTR’s $211 target rises as STRC steadies near $100

Clear Street raised its price target for MSTR to $211 from $201 and maintained a buy rating, citing Strategy’s strengthened financial position through STRC repurchases and increased USD reserves. The firm said that with STRC trading near par, Strategy could now resume BTC purchases, while MSTR was up nearly 5% today.

Strategy spent most of Q3 strengthening its financial position by issuing common stock to repurchase STRC shares and increase its USD reserves. Clear Street said MSTR stock issuance outpaced Bitcoin accumulation, which the firm admitted poses a risk, especially for common shareholders.

The STRC buybacks have so far paid off, with STRC trading near its par value of $100. With STRC trading near $100, Clear Street believes Strategy is well positioned to resume issuing preferred security and use the proceeds to grow its bitcoin per share (bps) metric.

Strategy announced a 267 BTC buy on Monday and has bought Bitcoin for the last five weeks. Clear Street also highlighted the October 29 earnings results as a key event to watch for the company and the MSTR stock.