Barclays Maintains Buy Rating on Strategy, Raises Target Price to $160

Barclays, the UK investment bank, has maintained its buy recommendation for Bitcoin mining company MicroStrategy (Nasdaq: MSTR) and raised its target price to $160, according to CryptoBriefing. The media outlet explained that Barclays initially issued a target price of $130 with an overweight rating on July 8 when it began analyzing MicroStrategy, then lowered the target to $125 after the second-quarter earnings report due to Bitcoin's underperformance, before raising it again this time. Additionally, Barclays categorized MicroStrategy not as a Bitcoin investment alternative but within the group of U.S. fintech companies like Visa and Mastercard.