TD Cowen lowers the target price for Strategy to $350 and assigns a buy rating to four crypto treasury companies including Sharplink

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ME News Report, April 10 (UTC+8), TD Cowen has lowered the target price for Strategy (MSTR) from $440 to $350, a decrease of 20.5%, while maintaining its buy rating. Analysts Lance Vitanza and Jonathan Navarrete pointed out that this adjustment is mainly due to “lowered Bitcoin price expectations” and a reduction in the company’s Bitcoin earnings valuation multiple. They revised the FY26 “BTC earnings” forecast to $7.87 billion, below the $10.17 billion in 2025, still believing that the company’s investment foundation lies in “effective leverage” transitioning the market’s demand for volatility. TD Cowen’s baseline scenario predicts Bitcoin reaching $140,000 by December 2026, with an optimistic scenario forecasting $175,000, and a pessimistic scenario dropping to $25,000. TD Cowen also issued buy ratings for four digital asset finance companies: Sharplink (SBET), Strive (ASST), Nakamoto Holdings (NAKA), and The Smarter Web Company (SWC.LN), with target prices of $16, $26, $1, and £1 (approximately $1.34), respectively. (Source: MLion)

SBET-3.19%
ME-8.74%
4-13.2%
MSTR-3.38%
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