Strategy shares have recovered more than 60% from their approximately $87 June low, closing at $142.80 after trading between $137.35 and $144.40 on volume of 27.16 million shares. The rebound has revived attention on Benchmark analyst Mark Palmer’s $435 price target, which implies more than 205% upside from the latest close and remains well above broader analyst expectations of roughly $226 to $236. Palmer retained his Buy rating after Strategy’s second-quarter results on July 30 but reduced the target from $570. Strategy’s stock is still down about 56% over the past year and has historically moved more sharply than Bitcoin, which underpins its business model. The company’s latest reported Bitcoin holdings were 845,050 BTC, while its second-quarter balance sheet included $6.7 billion of convertible debt. Strategy’s leveraged Bitcoin exposure can amplify gains during sustained Bitcoin advances but also intensify losses when prices fall or financing costs, borrowing, or share issuance increase.