Summary
- TD Cowen raised its price target on Strategy to $395, citing a positive view of the company's Bitcoin accumulation strategy.
- Strategy is reducing common-share issuance and raising funding for Bitcoin purchases through STRC issuance, its perpetual preferred stock.
- TD Cowen raised its outlook for BTC Yield, assuming Bitcoin at $140,000 to $175,000 by the end of 2026 and $4 billion to $5 billion in quarterly purchases.
Forecast Trend Report by Period
TD Cowen raised its price target on Strategy, citing a favorable view of the company's Bitcoin accumulation strategy.
The Block reported on May 7 that TD Cowen lifted its target to $395 from $385. The bank said Strategy's accelerated issuance of its STRC preferred stock would further strengthen its Bitcoin buying strategy.
Strategy has recently reduced common-share issuance and is funding its Bitcoin purchases through issuance of its perpetual preferred stock, STRC.
TD Cowen also raised its forecast for Strategy's key performance metric, BTC Yield. In its base-case scenario, the firm assumes Bitcoin will reach $140,000 by the end of 2026 and that Strategy will buy about $4 billion of Bitcoin per quarter. In a more bullish scenario, with Bitcoin rising to $175,000, quarterly purchases would exceed $5 billion.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
