TD Cowen Raises Strategy Price Target to $400, Maintains 'Buy' Rating

BlockBeats News, May 19th, TD Cowen announced on Tuesday that it has raised its target price for Strategy from $395 to $400, citing the "accelerated growth in per-share Bitcoin holdings" and a balance sheet maneuver believed to be a clear positive for both equity and debt holders.

The report was written by analyst Lance Vitanza and associate Jonnathan Navarrete, and maintains a "Buy" rating on the stock.

This $5 target price increase is primarily driven by TD Cowen's upward revision of expected Bitcoin earnings and Bitcoin dollar returns for 2026, due to fund operation performance since the last earnings report being better than previously modeled.