“Target Price $250→$215”...Strategy (MSTR), still poised for a 120% jump?

▲ Strategy, Bitcoin (BTC)/AI generated image

Wall Street has successively lowered the target price for Strategy (MSTR), which is embroiled in controversy over Bitcoin sales, while still leaving open the possibility of up to a 120% surge.

According to Coingape on August 6 (local time), Wall Street investment bank Maxim Group maintained its 'Buy' rating for Strategy. The target price was lowered from the previous $250 to $215. The new target price is approximately 120% higher than Wednesday's closing price of $98.37. Strategy's stock closed at $98.37, up $0.72 on the day.

Maxim Group was not alone in lowering its target price on Wall Street. Cantor Fitzgerald lowered its target price to $186. It also lowered its Bitcoin (BTC) forecast for August 2027 from $111,000 to $98,000. B. Riley lowered Strategy's target price from $215 to $155. It also adjusted its Bitcoin forecast from $81,500 to $65,000.

Analysts' cautious stance stems from a deteriorating Bitcoin price outlook and a change in Strategy's strategy. Strategy has recently moved away from its previous stance of not selling Bitcoin and has begun selling. B. Riley also cited Strategy's decision to stop additional Bitcoin purchases as a reason for lowering the target price.

On-chain analysis platform Lookonchain reported that over 1,030 BTC were moved from Strategy-related wallets. The value of this amount exceeds $66 million. Arkham data confirmed 5 transactions ranging from approximately $6 million to $21 million.

Strategy previously sold 1,638 BTC, worth approximately $105 million. After the sale, its holdings decreased to 842,138 BTC. The company has not clarified whether the recent wallet movements are additional sales or internal custodial restructuring. The combination of Bitcoin sales and the halt of additional purchases is rapidly lowering Wall Street's target price expectations.

[Key Article Summary]

-Maxim Group lowered Strategy's target price from $250 to $215 but maintained its 'Buy' rating.

-Cantor Fitzgerald and B. Riley also lowered their Bitcoin forecasts and Strategy's target prices.

-Strategy recently sold 1,638 BTC, reducing its holdings to 842,138 BTC.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*