Strategy Inc. MSTR shares (previously known as Microstrategy) fell more than 8% on Tuesday as a decline in Bitcoin prices weighed on cryptocurrency-linked stocks and prompted TD Cowen to lower its price target for the company, while maintaining a positive long-term outlook. The stock came under pressure alongside the broader crypto sector as Bitcoin fell below $60,000. TD Cowen analyst Lance Vitanza reduced his price target on Strategy to $260 from $400, while reiterating a Buy rating. The analyst said the lower target reflected Bitcoin’s current price rather than a change in conviction about the company.
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