TD Cowen Identifies Value in Three Crypto Stocks Post-Market Declines
- Lance Vitanza of TD Cowen initiated coverage of Nakamoto (NAKA) with a Buy rating and a price target of $1.00, suggesting a potential increase from $0.21.
- Nakamoto is expected to achieve estimated bitcoin dollar gains of $394 million for fiscal year-end, with bitcoin projected at about $140,000 by the end of the period.
- Vitanza also rated SharpLink Gaming (SBET) as a Buy, with a target price of $16, forecasting dollar gains of $93 million for fiscal year-end.
- For Strive (ASST), he set a price target of $26, nearly tripling its current value, based on estimated bitcoin gains of $142 million for fiscal year-end.
- Strive is noted as the first public bitcoin treasury company to acquire another firm, enhancing its market position.
These companies have experienced declines exceeding 90% in their asset values but may outperform traditional spot crypto exchange-traded products if market conditions improve and they expand their token holdings effectively.
With Nakamoto targeting significant gains tied to bitcoin performance and SharpLink focusing on ether staking yields, these firms could offer substantial upside potential as they navigate the current market landscape. (Source)
