TD Cowen Slashes Strategy Stock Target 35% on Bitcoin Weakness

TD Cowen cut its Strategy (MSTR) price target from $400 to $260, citing Bitcoin's ongoing weakness as BTC falls below $60,000, down 53% from its all-time high.

• TD Cowen lowered Strategy's price target 35% to $260 from $400.
• Bitcoin fell below $60,000, down 53% from its $126,000 all-time high.
• Strategy shares dropped 8.6% to $84.75, down 41% since the firm sold Bitcoin last month.
• Analysts called Strategy's new capital framework 'a positive for credit visibility.'
• Strategy's cash reserves expanded to $2.55 billion under the new framework.

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Last updated 1 Jul 2026