Bitcoin Treasury Firm Semler Scientific Still Has 3X Upside: Benchmark

Description

Semler Scientific (SMLR) is trading just above the market value of its bitcoin holdings, with a market NAV (mNAV) of 1.04, highlighting what broker Benchmark calls a significant valuation disconnect. Markets, argued analyst Mark Palmer following the company's second quarter earnings yesterday, are giving "virtually no credit for [Semler's] ample room to use 'intelligent leverage' to add to its bitcoin holdings." Reiterating his buy rating and $101 price target — or nearly triple the current pric...