B. Riley issues buy ratings for Strategy and Strive

Investment bank B. Riley has issued buy ratings for Strategy and Bitcoin asset management firm Strive (ASST), CoinDesk reported. B. Riley set a price target of $175 for Strategy and $12 for Strive, which are currently trading at $141 and $8.67, respectively. The bank noted that Strategy is trading at approximately 1.2 times its modified net asset value (mNAV), a significant discount from its 3.4x multiple in 2024, presenting what it sees as an attractive entry point. For Strive, B. Riley highlighted the company's low-debt structure and a preferred stock yield of around 12.5%. With its stock trading at 0.9 times its net asset value, the bank considers it undervalued. The mNAV is a metric used to evaluate companies holding BTC reserves, calculated by comparing a firm's market capitalization to the value of its Bitcoin and related assets.