Strategy ($MSTR) maintains $165 price target

Mizuho maintained its $165 price target and "outperform" rating on Strategy (MSTR) following the company's third-quarter earnings report, with MSTR trading around $130 at the time of the report. The firm noted that Strategy's bitcoin holdings per share have declined 3.7% year-to-date, a metric investors track closely given the company's bitcoin treasury strategy. As of October 25, Strategy held 649,850 BTC... wait, the article states 848,500 BTC in total holdings per its Q3 materials, and the company made no bitcoin purchases or sales during the week of October 19–25, its first inactive stretch after a prolonged buying streak. The gap between the $130 share price and Mizuho's $165 target implies roughly 27% upside, though analyst targets are not actual trading prices. Watch for whether Strategy resumes bitcoin acquisitions and how its BTC-per-share trajectory factors into future analyst revisions.