The Wall Street investment bank kept its Overweight rating, citing more conservative assumptions while still backing Strategy’s long-term outlook and further Bitcoin accumulation through credit bond issuance.
Cantor Fitzgerald reduced its price target on Strategy to $186 from $212 while maintaining an Overweight rating, reflecting more conservative assumptions that included lowering its Bitcoin price forecast to $98,000 from $111,000. Despite the cuts, the Wall Street investment bank continued to view Strategy favorably over the long term. It also expects STRC’s par value to recover and said the company is likely to keep increasing its Bitcoin holdings by issuing credit bonds.