B. Riley Securities has raised its price target for MicroStrategy (MSTR) to $195 from $175, maintaining a Buy rating. The adjustment, detailed in a note from September 22, 2026, implies a potential upside of approximately 16% from the then-current price of $168.
The firm identifies two primary catalysts for the stock: the SEC’s new five-year Innovation Exemption for tokenized securities and the upcoming Trump-Xi summit scheduled for September 24. These events are expected to influence digital asset-linked equities.
On September 17, the SEC introduced a conditional exemption allowing Tokenized Securities Venues (TSVs) to trade tokenized National Market System stocks without full exchange registration. This policy remains in effect until September 17, 2031.
B. Riley suggests that tokenized trading enables continuous market access, bypassing the standard 6.5-hour trading windows of the NYSE and Nasdaq. This structural shift may increase institutional interest and liquidity for companies like MicroStrategy, which holds the largest corporate Bitcoin treasury.
