TD Cowen lowered the firm’s price target on Strategy (MSTR) to $640 from $680 and keeps a Buy rating on the shares. The firm noted that over the last week, Strategy purchased another 4,048 bitcoins for $449.3M, likely reflecting “management’s desire to take advantage of what many perceive to be temporary weakness in the price of bitcoin.” However, TD Cown trimmed it price target to reflect “near-term BTC and cap markets fundamentals.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSTR:
- Proactive Strategy and Bold Bitcoin Acquisition: Lance Vitanza’s Buy Rating
- Crypto Currents: Strategy qualifies for S&P 500, decision looms
- Strategy Inc. Declares Cash Dividends for Preferred Stock
- Notable open interest changes for September 2nd
- Strategy Inc. Updates on Share Sales and Bitcoin Acquisition