StoneX analyst Mark Palmer raised Strive's price target from $32 to $43, a 34% increase, while maintaining a Buy rating. Palmer cited the company's recently completed SATS preferred stock IPO and the expiration of traditional warrants as a "clean reset" of its capital structure, reinforcing its all-preferred-equity bitcoin treasury model.
On Oct. 20, Strive completed an upsized IPO of 7 million shares of 15% SATS preferred stock, raising $630 million in gross proceeds. The security carries a 15% annual dividend rate, with funds reserved to cover payments for the first 18 months. Palmer noted that SATS ranks junior to the earlier SATA preferred stock, meaning each dollar raised adds assets without creating claims senior to existing preferred equity.
Separately, Strive disclosed Monday that it purchased 6,182 BTC between Oct. 17 and Oct. 23, bringing total holdings to 43,000 BTC. Despite the positive analyst action, Strive shares fell 9.15% on Monday to close at $26.32.
StoneX Raises Strive Price Target 34% to $43 After $630M Preferred Stock IPO
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