TD Cowen Cuts Strategy Price Target to $260 From $400, Cites Lower Bitcoin Forecast

BTC-1.52%
According to The Block, TD Cowen cuts Strategy price target to $260 from $400 on June 30, maintaining a "buy" rating while lowering Bitcoin price expectations. The firm now forecasts BTC at around $100,000 by end-2026 and $135,000 by end-2027, down from prior estimates of roughly $140,000 and $190,000. The new target still implies over 200% upside from Strategy's recent closing price of $92.68. TD Cowen noted the company introduced new capital management initiatives including dollar reserve policies, 12% preferred stock dividends, $1 billion buyback authorizations each for preferred and common stock, and a $1.25 billion Bitcoin monetization plan, with dollar reserves rebuilt to $2.55 billion.
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