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Monness Crespi lowered the firm’s price target on Strategy (MSTR) to $175 from $220 and keeps a Sell rating on the shares. The stock’s “lowered premium to HODL” reflects a closing window for the equity and fixed income capital raise plan, says the analyst, who believes it is “appropriate to lean into this bet” as the window for capital raises is seemingly closing on the fixed income side, in particular, creating a need to rely upon equity dilution at an “increasingly disproportionate clip.”
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