TD Cowen lowers Strategy price target to $260
Analysts slashed the price target for Strategy shares by 35% to $260 from $400 due to ongoing Bitcoin weakness.
The investment bank now forecasts Bitcoin to hit $100,000 by year’s end, down from $140,000 previously.
Bitcoin’s price has tumbled over 53% from its all-time high above $126,000 set last October, currently standing at $58,400.
Strategy’s stock has fallen nearly 41% from $142.69 since selling Bitcoin roughly a month ago.