B.Riley Slashes Strategy Stock Price Target by 28%

B.Riley Financial has adjusted its price target for Strategy stock () to $155 from $215, while maintaining a Buy rating.

The firm lowered its bitcoin assumption to approximately $65,000 from $81,500, reflecting a roughly 25% decline following first-quarter results in May.

B.Riley noted that the company's equity will primarily trade as a bitcoin proxy in the near term and that the stock currently trades at a 10% discount to par.