TD Cowen Raises Price Target for Strategy Amid Massive Bitcoin Acquisition
- TD Cowen analysts increased the price target for Strategy (MSTR) shares to $400, up from $395.
- Strategy acquired $2 billion worth of Bitcoin, adding nearly 25,000 BTC last week.
- The firm now holds a total of approximately 843,738 BTC, valued at about $64.7 billion.
- Strategy retired around $1.5 billion in convertible debt recently, enhancing financial flexibility.
- Shares of MSTR are currently trading around $164, down nearly 64% from their year-high of $457.22.
TD Cowen’s revised price target for Strategy reflects confidence in the firm’s aggressive Bitcoin accumulation strategy and financial maneuvers like retiring significant debt and issuing preferred equity stock to fund purchases.
Despite a current dip in share prices, the substantial increase in Bitcoin holdings positions Strategy favorably for future growth according to TD Cowen’s analysis. Source
