B. Riley Securities reiterates buy rating on Strategy, raises price target to $195

B. Riley Securities bumped its price target on Strategy (NASDAQ: MSTR) to $195 from $175, keeping a Buy rating on the stock in a research note dated September 22, 2026. The implied upside from prices around $168 at the time of the note: roughly 16%. The catalyst list is short but potent. B. Riley pointed to two events converging in a matter of days: the SEC’s freshly minted “Innovation Exemption” for tokenized securities, and the Trump-Xi meeting scheduled for September 24. Both could inject fresh momentum into digital asset-linked equities, and Strategy, the largest corporate holder of Bitcoin, sits squarely in the crosshairs of that trade. The SEC’s tokenization green light On September 17, the SEC granted a five-year conditional exemption that allows Tokenized Securities Venues, or TSVs, to facilitate the trading of tokenized National Market System stocks without registering as full exchanges. The exemption runs through September 17, 2031, giving venues a meaningful runway to build out infrastructure. For companies like Strategy, the implications are layered. Tokenized stock trading means continuous markets, not just the 6.5-hour window that NYSE and Nasdaq provide. B. Riley not...