Citi raises Strategy valuation to $240 on higher Bitcoin forecast
Citi raised its 12-month view for Strategy shares to $240 from $136. The bank lifted its 12-month Bitcoin forecast to about $113,400 from $82,000, a 39% increase.
- Citi linked about 16% of expected upside to expansion in Strategy's mNAV multiple.
- Citi raised its Bitcoin Yield Multiple assumption to 4.0x from 2.5x.