StoneX raised its price target for Strive to $43 and maintained its buy rating.

StoneX raised its price target for Bitcoin treasury company Strive from $32 to $43 and maintained its buy rating. Analyst Mark Palmer stated that Strive's recent SATS preferred stock IPO and the expiration of traditional warrants constitute a restructured capital structure. On October 20, Strive completed an enlarged IPO of 7 million shares of 15% SATS preferred stock, raising gross proceeds of $630 million. The SATS offer a 15% annual dividend, and the company has set aside funds to cover payments for the first 18 months. Palmer noted that SATS is subordinate to the previous SATA preferred stock, and every dollar raised adds to assets without increasing debt prior to the senior preferred stock. (Source: The Block)