Cantor slashes Strategy target by 60%, tells clients forced-sale fears are overblown
Cantor Fitzgerald slashed its Strategy price target, but remains bullish on the stock despite fears over potential exclusion by the MSCI Index and forced liquidation concerns, the FT said.
US-based financial firm Cantor Fitzgerald slashed its price target on Michael Saylor’s Bitcoin-heavy company, Strategy, but kept a bullish stance on the cryptocurrency’s long-term upside, downplaying fears of forced liquidation, according to the Financial Times.
Cantor Fitzgerald reportedly lowered its 12-month price target on Strategy stock by 60%, adjusted to $229 from $560, according to a Thursday analyst note seen by the FT.
Despite the downgrade, Cantor’s “buy” rating reportedly remains unchanged, as the bank said that fears surrounding Strategy’s forced liquidations were “not warranted,” despite receiving significant attention.