Strategy (MSTR) Stock Rises 3% on Citi’s Bold Bitcoin Bet

Citigroup raised its price target on Strategy (MSTR) to $240 from $136, keeping its Buy rating. The new target implies roughly 50% upside from MSTR's October 1 close of $160.50. Citi lifted its 12-month Bitcoin forecast to $113,000 from $82,000, citing steadier ETF inflows. MSTR shares rose 2.7% in pre-market trading Friday.