AllianceBernstein cut its price target on Strategy, formerly MicroStrategy, from $450 to $350 while keeping its outperform rating unchanged. The revision, dated August 26, accounts for the dilutive effect of share issuances on the company’s valuation model as well as higher interest rates that increase the cost of its Bitcoin acquisition strategy. The firm nonetheless maintained its bullish Bitcoin forecast, projecting $150,000 by mid-2027 and $300,000 by 2029. Strategy remains the largest corporate holder of Bitcoin under executive chairman Michael Saylor.
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