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TD Cowen Maintains 'Buy' Rating on Strategy
Summary: In a research report, TD Cowen stated that despite risks, the premium of Strategy's stock price relative to its net asset value (NAV) in Bitcoin (BTC) holdings is reasonable. The institution noted that Strategy's 'equity-to-BTC loop' model allows it to use stock issuance revenue to purchase more Bitcoin, driving higher stock prices and further Bitcoin ...
In a research report, TD Cowen stated that despite risks, the premium of Strategy's stock price relative to its net asset value (NAV) in Bitcoin (BTC) holdings is reasonable. The institution noted that Strategy's 'equity-to-BTC loop' model allows it to use stock issuance revenue to purchase more Bitcoin, driving higher stock prices and further Bitcoin purchases in a positive cycle. TD Cowen reiterated a 'buy' rating on Strategy and set a target price of $1625. (The Block)
