Cantor Fitzgerald reiterated its "Overweight" rating and $212 price target for MicroStrategy (MSTR) on Wednesday, July 22. The company's stock traded around $95-$100, significantly below the analyst's target.
The firm bases its stance on a positive view of MicroStrategy's recent strategic shifts, including bolstering its cash reserves. Cantor Fitzgerald dismissed concerns about the company's access to capital markets. It believes the market could absorb any potential Bitcoin sales from the company.
The reiterated rating follows a recent stock price drop. Shares fell over 6% on July 24. This decline occurred after MicroStrategy announced changes to its Bitcoin valuation metrics ahead of its July 30 earnings report.