Cantor Fitzgerald adjusts Strategy price target amid Bitcoin valuation shifts

Cantor Fitzgerald analyst Ramsey El-Assal has changed his price target for Strategy stock several times recently. He first raised it from $186 to $208, using a Bitcoin price forecast of $112,000 over 12 months. He then cut it sharply to $229, down from an earlier target of $560. He said the lower target reflects a harder environment for raising money connected to Bitcoin. Despite these changes, he has kept an Overweight rating, which means he still thinks the stock is worth buying. Strategy, formerly known as MicroStrategy, holds a large amount of Bitcoin, so its stock price moves closely with Bitcoin's value. The stock has been trading between roughly $151 and $180, below all the targets El-Assal has set.