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📅 July 3, 7:00 – July 9,
TD Cowen: Strategy stock price premium is reasonable, maintains buy rating with a target price of $1625.
[Bit推] TD Cowen stated in a research report that despite the risks, it is reasonable for Strategy's stock price to trade at a premium relative to its net asset value (NAV) of Bitcoin (BTC) held. The institution noted that Strategy's "equity-to-BTC loop" model enables it to use its stock issuance revenue to purchase more Bitcoin, thereby driving higher stock prices and further Bitcoin purchases, creating a virtuous cycle. TD Cowen reiterated its "buy" rating on Strategy and set a target price of $1625.