Strategy shares reversed earlier gains Friday and fell 0.61% to $159.52 at publication, according to Benzinga Pro. According to NS3.AI, Bitcoin broke above $87,000, while falling Treasury yields and reduced expectations for further Federal Reserve tightening initially supported Bitcoin and related stocks.

Citi analyst Peter Christiansen raised his Strategy price target to $240 from $136 and kept a Buy rating. Christiansen said the move was driven mainly by a revised 12-month Bitcoin forecast of roughly $113,400, up 39%.