As per PANews, TD Cowen's latest report notes that the Bitcoin premium of Michael Saylor's Strategy is approaching levels seen during the 2021-2022 'crypto winter.' The firm has updated premium charts showing the premium has significantly declined from its peak and is narrowing to early 2022 levels. Despite this, TD Cowen maintains a bullish stance on MSTR, keeping its buy rating and $535 price target, which is about 200% above the current $180 stock price. The report estimates that by the end of fiscal 2027, Strategy's Bitcoin holdings could exceed 815,000 BTC, valued at over $185 billion, translating to an intrinsic value of around $540 per share. The firm also highlights the risk of Strategy being removed from the MSCI index, which it believes is weighing on the stock.
TD Cowen: Strategy's Bitcoin Premium Near 'Crypto Winter' Lows, Maintains Buy Rating
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