According to The Block, StoneX raised its price target for Bitcoin treasury company Strive (ASST) from $32 to $43 and maintained a "Buy" rating. The analyst believes that the company’s recent expansion of its preferred stock offering has improved its Bitcoin accumulation strategy and capital structure. Strive completed a $630 million preferred stock IPO on October 20, issuing 7 million shares of SATS preferred stock with a 15% annual dividend rate. Additionally, the company disclosed that it acquired 6,182 BTC between October 17 and 23, bringing its total holdings to 43,000 BTC, ranking it fourth among publicly traded companies in Bitcoin holdings.
StoneX raises the target price for Strive (ASST) by 34% to $43 amid growth in BTC holdings.
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Summary
StoneX has raised its price target for Strive (ASST) from $32 to $43, maintaining a 'Buy' rating. The firm noted that the company’s expanded preferred stock issuance supports Bitcoin accumulation and strengthens its capital structure. Strive closed a $630 million preferred stock IPO on October 20, offering 7 million shares at a 15% annual dividend. Between October 17 and 23, it added 6,182 BTC, increasing its holdings to 43,000 BTC—now the fourth-largest Bitcoin holding among public companies.
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