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TD Cowen: Maintains a "Buy" rating on Strategy
Odaily News TD Cowen stated in a research report that despite the risks, the premium of Strategy's stock price relative to its Bitcoin (BTC) net asset value (NAV) is justified. The firm noted that Strategy's "equity-to-BTC loop" model allows it to use its stock issuance revenue to purchase more Bitcoin, driving higher stock prices and further Bitcoin purchases, creating a virtuous cycle. TD Cowen reiterated its "buy" rating on Strategy and set a target price of $1625. (The Block)