According to the source, investment bank TD Cowen lowered its 12-month price target for MicroStrategy (MSTR) to $440 from $500, citing Bitcoin (BTC) price weakness. According to the source, this is the second target reduction since December.

According to the source, TD Cowen lowered its price target for a Bitcoin-exposed company, citing a softer Bitcoin yield outlook as the driver for the revision. The source reports the reduction reflects diminished expectations for Bitcoin yield, a key input for valuation sensitivity to BTC-linked equities.

According to the source, Cantor Fitzgerald significantly lowered its price target for MicroStrategy (MSTR) while reiterating an Overweight rating on the Bitcoin-treasury-focused company. Source: Cantor Fitzgerald research update communicated publicly on Dec 5, 2025. MSTR’s share performance is materially influenced by BTC price volatility, as disclosed in the company’s SEC filings, which is relevant for traders using MSTR as a Bitcoin proxy. Source: MicroStrategy SEC filings (Risk Factors).

According to the source, Cantor Fitzgerald reduced its price target on MicroStrategy (MSTR) by 59% while maintaining a long-term bullish stance on the Bitcoin-exposed company, as disclosed in a new research note. Source: Cantor Fitzgerald research note. The move is trading-relevant for crypto-equity correlation plays because MicroStrategy’s equity performance is closely tied to BTC through its treasury strategy of holding Bitcoin. Source: MicroStrategy investor relations.