TD Cowen raises Strategy price target to $400, citing faster bitcoin accumulation and accretive deleveraging
The Block
TD Cowen raised its Strategy (MSTR) price target to $400, highlighting increased bitcoin purchases and improved balance sheet efficiency.Summary
TD Cowen has increased its price target for Strategy (MSTR) from $395 to $400, maintaining a Buy rating. Analysts Lance Vitanza and Jonnathan Navarrete cited faster-than-expected bitcoin accumulation and strategic balance sheet management as primary drivers. Strategy has significantly increased its bitcoin holdings, prompting higher projections for BTC yield and dollar gains through 2026. Additionally, the company’s recent repurchase of $1.5 billion in convertible notes at a discount has reduced share dilution and strengthened its credit position.
(Source：The Block)