US brokerage BTIG: Raise MicroStrategy stock target price from $780 to $1,800

According to CoinDesk, US brokerage firm BTIG stated in a research report that MicroStrategy has a good track record in creating value for shareholders, and reiterated its buy rating on the stock, raising its target price from $780 to $1,800.Analysts Andrew Harte and Thomas Smith wrote that MicroStrategy's stock price has risen 155% this year, mainly due to the 50% increase in Bitcoin prices, increasing financing, and the implied premium of MicroStrategy's Bitcoin holdings has increased from about 1.5 times last year to more than twice, among other factors.The report stated that in the sum-of-the-parts (SOTP) valuation analysis of the company, investors expressed support for a higher implied Bitcoin premium, and pointed out that although this premium has increased compared to historical levels, "investors have shown a willingness to invest based on their positive outlook on the premium."