TD Cowen: Maintain Strategy's "Buy" rating

Odaily News TD Cowen said in a research report that despite the risks, Strategy's share price is justified by a premium to its Bitcoin (BTC) net asset value (NAV). The agency said that Strategy's "equity-to-BTC loop" model enables it to use its stock issuance revenue to buy more Bitcoin, thereby driving higher share prices and further Bitcoin purchases, forming a virtuous circle. TD Cowen reiterated its "buy" rating on Strategy and set a target price of $1,625. (The Block)