TD Cowen: Strategy stock has 170% upside potential.
TL;DR
TD Cowen analysts maintain a $585 price target for MSTR, implying 170% upside, as Bitcoin's decline hasn't altered Strategy's long-term outlook and Bitcoin accumulation model.
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According to Odaily Odaily, TD Cowen analysts stated that despite Strategy's mNAV recently falling below 1 (meaning its stock is trading below the market value of its Bitcoin holdings) and Bitcoin hitting a seven-month low, this has not changed its long-term outlook. The company believes there is still significant upside potential as its Bitcoin accumulation model scales up.
Analysts Lance Vitanza and Jonnathan Navarrete maintained their price target of $585 for MSTR, implying an upside of approximately 170% from Strategy's current share price of nearly $194. They noted that the current weakness reflects more market volatility than any change in the company's ability to accumulate additional Bitcoin.