Canaccord Maintains Buy Rating on Strategy but Slashes Stock Target Price by 61%

Odaily News: Canaccord analyst Joseph Vafi has lowered the price target for bitcoin treasury company Strategy (MSTR) from $474 to $185, a reduction of over 60%. However, he maintained a Buy rating on MSTR, noting that the new target price still implies approximately 40% upside from the previous trading day's closing price of $133. Strategy's stock is down about 15% year-to-date, 62% over the past year, and has fallen 72% from its all-time high in November 2024. The company holds approximately $44 billion in bitcoin assets against $8 billion in convertible debt. Assuming a 20% recovery in bitcoin's price, Strategy's mNAV would recover to around 1.25x. (CoinDesk)