TD Cowen analyst Lance Vitanza cut his Strategy MSTR price target to $260 but still sees 182% upside as the company builds a $3 billion cash reserve.

Strategy (MSTR) raised $467 million through stock sales to boost its cash reserve to $3 billion while leaving its 843,775 BTC holdings unchanged for a second straight week.

MSTR stock nears $90 after Strategy sells $466.7M in shares, raises its cash reserve and skips a Bitcoin purchase.