Maxim cuts Strategy target to US$215

• Maxim Group cut its Strategy price target from US$250 to US$215, while keeping its Buy rating.
• Strategy shares closed Wednesday at US$98.37, up 0.74%, according to CoinGape.
• The target cut followed Strategy’s recent Bitcoin sales and lower Bitcoin (CRYPTO:BTC) price forecasts.

Maxim Group cut Strategy from US$250 to US$215, while keeping its Buy rating.

The US$215 target was about 120% above Strategy’s US$98.37 Wednesday closing price, according to CoinGape.

Cantor Fitzgerald also cut its Strategy target to US$186 and lowered its Bitcoin (CRYPTO:BTC) forecast to US$98,000.

B. Riley reduced its Strategy target from US$215 to US$155 and cut its Bitcoin forecast to US$65,000.

B. Riley cited Strategy’s decision to halt further Bitcoin purchases as one reason for its lower valuation.

Strategy recently sold 1,638 Bitcoin for about US$105 million, leaving the company with 842,138 BTC.

Strategy-linked wallets later moved 1,030 BTC, but the company has not confirmed whether those transfers represented additional sales.

At the time of reporting, Bitcoin price was $64,867.72.