Canaccord cuts Strategy price target despite backing Bitcoin thesis
Strategy has received another Wall Street price target cut after Canaccord lowered its valuation on the company while maintaining that Bitcoin’s long-term investment case remains intact. Bitcoin outlook remains intact despite lower valuation According to a research note from Cana...
➤ Canaccord has lowered its price target for Strategy (MSTR) to $130, citing the company's stock performance, but maintains a positive long-term outlook on Bitcoin. ➤ Despite the price target cut, other analysts from TD Cowen, Cantor Fitzgerald, and Benchmark continue to support Strategy, with some maintaining 'buy' ratings and significant upside potential. ➤ Strategy has introduced a new Digital Credit Capital Framework to enhance financial flexibility, allowing for up to $1.25 billion in Bitcoin sales and $1 billion in securities repurchases, while pausing further Bitcoin acquisitions.
