Barclays raised the firm’s price target on MicroStrategy to $225 from $173 and keeps an Overweight rating on the shares. The firm says that while bitcoin prices “remain somewhat elevated,” MicroStrategy is in a comfortable position to further accelerate bitcoin yield and build up the company’s “war chest.” It increased the price target to reflect the recent price action and expansion in market multiples.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on MSTR:

• Crypto Currents: Crypto.com files lawsuit against SEC

• Crypto.com files suit against U.S. SEC to ‘protect’ future of crypto industry

• MicroStrategy Is a Strategic Buy to Capitalize on Bitcoin’s Outperformance

• MicroStrategy price target lowered to $290 from $2,890 at Bernstein

• Crypto Currents: TeraWulf monetizes equity interest in Nautilus JV