TD Cowen has raised its price target for the strategy share from $ 590 to $ 680 per year.
The research report from today sets a basic case target of $ 128,000 for Bitcoin at the end of the year with a downward scenario of $ 55,000. However, the company’s upside forecast of $ 155,000 for Bitcoin could significantly lift the strategy’s share price. The company is the world’s largest business owner of BTC, and its stock has historically seen the track closely with Bitcoin’s performance.
Strategy bought another 4,225 BTC today for $ 472.5 million at an average price of $ 111,827 per year. Coin, according to a filing on July 14. This brings its total holdings to 601,550 BTC, currently worth approx. $ 73 billion at spot prices around $ 121,500.
“What started as a defensive strategy to protect the value of its reserve assets has become an opportunistic strategy aimed at speeding up the establishment of shareholder value,” TD Cowen’s analysts wrote. “Strategy intends to continue to acquire and keep Bitcoins through debt and equity offerings revenue.”
The company expects the strategy to collect $ 84 billion through its “42/42” plan – a straight mix of debt and equity – to continue to acquire Bitcoin, potentially growing its total holdings to 900,000 BTC by the end of 2027.
At the time of publication, the strategy’s shares traded at $ 448.20, which is almost 3% up the day, reflecting investor enthusiasm following the bullish report.
TD Cowen also initiated new “buy” assessments on the trio of the strategy with preferred shares, highlighting their “compelling income and award assessment potential with less expected volatility than ordinary shares or underlying Bitcoin.”
TD Cowen first highlighted the strategy’s Bitcoin strategy back in 2023 and called it a “paradigm shift.” At that time, the company noted that the strategy used cash from its software business to buy Bitcoin as a long -term step to protect against dollar inflation. They thought Bitcoin’s Limited Supply made it a stronger value of value than Fiat or Gold, and then strategy as a smart way for investors to get Bitcoin exposure. Today’s updated report-with-higher price target and a $ 155,000 upside for Bitcoin show that TD Cowen’s long-term confidence has not changed.
As institutional adoption accelerates, the strategy’s Bitcoin acquisition strategy has become a model for corporate taxes. The company’s total Bitcoin investment of $ 29.27 billion now reflects significant unrealized gains with a cost base of $ 71,268 per year. BTC.
The report and strategy’s latest purchases came the same day as Bitcoin hit a new highest time that surpassed $ 123,000-derived the growth and adoption of Bitcoin.