Canaccord Genuity cuts Strategy price target to $130, maintains buy rating

Canaccord Genuity analyst Joseph Vafi trimmed his price target on Strategy Inc. (NASDAQ: MSTR) from $163 to $130 on June 30, while keeping his Buy rating intact.

The stock has dropped 41% in June 2026 alone, closing lower in 11 of the previous 12 months.

What the numbers actually say

Vafi’s revised $130 target implies roughly 40% upside from MSTR’s recent trading range of $82 to $93. The previous target of $163 was set just weeks earlier, on June 3, 2026. For context on just how far expectations have shifted: earlier targets on MSTR reached as high as $474 in 2025.

Other analysts on the Street are considerably more bullish. Consensus estimates for MSTR range from $276 to $350, which means Canaccord’s revised target sits well below the pack.

Strategy’s Bitcoin position is enormous, and that is both the asset and the risk

As of June 22, 2026, Strategy holds 847,363 BTC in its corporate treasury, making it the largest publicly traded corporate Bitcoin holder in the world. The company acquired that Bitcoin at an average cost of approximately $66,385 per coin.

The company has funded its Bitcoin accumulation through a combination of equity issuances and debt, a strategy that works beautifully in a rising Bitcoin market and becomes a serious liability when prices stall or fall.

What this means for investors watching MSTR

Canaccord maintaining a Buy rating despite the target cut sends a specific message: this is a valuation adjustment, not a thesis abandonment.

The divergence among analysts is worth paying attention to. When consensus estimates range from $276 to $350 and one firm is sitting at $130, something is genuinely uncertain about how to value this company.

Watch how Strategy manages its financing over the coming months. MSTR’s ability to continue acquiring Bitcoin depends on its access to equity and debt markets, which tends to become more challenging when a stock is down 41% in a single month.

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