11:00 AM EST, 02/09/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our target price by $38 to $172, using a 3% BTC Yield in 2026 (992K BTC by year-end), a $80K BTC target, and MSTR keeping a 1.10x mNAV (BTC/EV premium). We feel traditional valuation multiples are irrelevant and use capital-raising efforts and mNAV estimates to set our price target. We see MSTR acquiring 270K-340K BTC in 2026 based on capital raised, average BTC prices, and mNAV assumptions. Management remains focused on STRC, the high-yield low-volatility credit instrument it aims to increase adoption and issuance via institutional investors ($3.4B outstanding). The IRS said unrealized gains on BTC are not subject to taxes, a big win for MSTR along with MSCI's decision to maintain index eligibility for digital asset companies. Despite these positive developments, the 20% year-to-date drop in BTC is putting pressure on MSTR's balance sheet, with $888M in annual obligations as it only has 2.5 years of available cash before BTC sales may be necessary.