TD Cowen cuts Strategy price target to $440, cites lower bitcoin yield outlook
Price Target Adjustment
TD Cowen has revised its price target for Strategy (MSTR) stock to $440, citing a lower expected yield from Bitcoin as a key factor in its revised outlook.
Market Context
The adjustment reflects broader concerns about the future performance of Bitcoin, with analysts suggesting that the cryptocurrency’s yield outlook is less favorable than previously anticipated.
Analyst Position
Despite the downward revision in the price target, TD Cowen has maintained a ‘Buy’ rating on Strategy stock, indicating continued confidence in the company’s long-term potential despite short-term market pressures.
Related Developments
- TD Cowen previously maintained a $535 price target for Strategy, citing strong demand for preferred shares and rising Bitcoin per share, even with a narrowing NAV premium.
- Analysts have warned that Strategy’s stock may face continued pressure as MSCI considers removing PBTCs from its index by mid-January.
- TD Cowen has also forecasted that Strategy could hold approximately 835,000 Bitcoin by the end of fiscal year 2027.