TD Cowen cuts Strategy price target to $260 as bitcoin forecast drops to $100,000
TD Cowen slashed its price target for Strategy (MSTR) on Tuesday to $260 from $400, citing a revised forecast that bitcoin will end 2026 at approximately $100,000, down from $140,000. Despite the reduction, the investment bank maintained a Buy rating on the corporate bitcoin treasury company and noted more than 200% implied upside from recent share levels.
The analyst revision reflects a more conservative outlook for digital assets rather than concerns over Strategy's newly announced Digital Credit Capital Framework. TD Cowen characterized the capital framework as "incrementally constructive," noting it improves credit visibility and financial flexibility. The bank also highlighted that Strategy has rebuilt its U.S. dollar reserve to $2.55 billion, providing coverage for more than 17 months of preferred dividends and interest obligations.
From the sources (3 posts)
@coinmarketcapLATEST: 📊 TD Cowen slashed its Strategy price target to $260 from $400, citing a revised Bitcoin forecast of $100,000 by the end of 2026, down from $140,000.
@cyberxlx9q📢 TD Cowen has cut its price target for Strategy ($MSTR) from $400 to $260, while maintaining a Buy rating. The revision is driven by a more conservative Bitcoin outlook, not concerns over Strategy’s newly announced Digital Credit Capital
@theblockcoTHE BLOCK: TD Cowen reduced its Strategy price target to $260 from $400, but says the cut is about a lower bitcoin forecast, not the company's new capital framework, which it calls "incrementally constructive." The bank still rates MSTR as