| Mobile Web

Search results for TD Cowen

Crypto

TD Cowen cuts Strategy price target 35 percent, lowers year-end bitcoin forecast

Investment bank TD Cowen cut its price target for Strategy, citing weakness in bitcoin. It lowered the target to $260 from $400, a 35 percent cut, and reduced its year-end bitcoin forecast to $100,000 from $140,000. Analysts cited bitcoin’s failure to rebound and said Strategy’s valuation needs a more realistic reassessment. TD Cowen was positive on Strategy’s new capital management framework and higher cash holdings, but noted rising costs from its STRC preferred stock.

Crypto

Strategy that had been buying bitcoin now sells as Wall Street cuts MSTR price targets

Wall Street is rapidly pulling back confidence in Strategy\'s highly leveraged bitcoin accumulation strategy. Canaccord Genuity cut its price target on MSTR to $130 from $163 and warned the company’s bitcoin acquisition structure is vulnerable in a downturn. TD Cowen also cut its target to $260 from $400 while keeping a buy rating. Strategy approved selling up to $3.25 billion of bitcoin to raise cash, fund dividends and buy back shares.

Crypto

Wall Street sees low chance of Strategy forced bitcoin sale, keeps buy rating

Major Wall Street brokerages assessed market concerns about a forced bitcoin sale by Strategy as unlikely. Benchmark and TD Cowen said in reports they see a low chance the company would be compelled to sell bitcoin and maintained their existing buy ratings. Analysts pointed to cash-like assets set aside for preferred dividend payments and the lack of near-term redemption pressure for STRC perpetual preferred shares. TD Cowen also said Strategy’s bitcoin treasury strategy requires at least a mild upward price trend over the long term.