Citi lowers price target on Strategy to $136, maintains buy rating
Canaccord also cut its valuation on Strategy while keeping a constructive long-term view on Bitcoin, adding to analyst caution around the company’s near-term valuation.
Strategy has drawn 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. The update follows Citi’s July 1 move to cut its own price target on Strategy to $136 from $260 while keeping a buy rating, saying the company’s updated capital plan strengthens liquidity and could give it more time to stabilize operations. Shares were down 0.52% in premarket trading at $86.48, according to BIT data. Together, the calls underscore how analysts remain constructive on Bitcoin over the longer run while turning more cautious on the valuation of companies whose equity performance is closely tied to crypto exposure, balance-sheet management and access to capital.
- liquidity: A company’s ability to meet near-term financial obligations using available cash or funding
- capital plan: A company’s strategy for raising, allocating and managing funding to support operations and financial stability
- valuation: An assessment of what a company is worth, often used to set a stock price target