TD Cowen: Maintains "Buy" Rating on Strategy

TD Cowen stated in a research report that, despite the risks, Strategy's stock price premium relative to its Bitcoin ($BTC) net asset value (NAV) is justified. The firm stated that Strategy's "equity-to-BTC loop" model allows it to use its stock issuance revenue to buy more Bitcoin, driving higher stock prices and further Bitcoin purchases, creating a virtuous cycle. TD Cowen reiterated its "buy" rating on Strategy and maintained its target price of $590.00 per share. (The Block) [Odaily星球日报]