Strategy Target Cut to $260 as TD Cowen Lowers Bitcoin Outlook
Key takeaways
- Strategy Target Cut to $260 as TD Cowen Lowers Bitcoin Outlook Crypto Prowl Tue, June 30, 2026 at 11:27 PM GMT+7 2 min read MSTR BTC-USD BTC STRK Strategy Inc.
- The firm cut its Strategy target to $260 from $400 while keeping a Buy rating on the stock.
- TD Cowen now expects Bitcoin to end 2026 near $100,000, down from its prior estimate of about $140,000.
Strategy Target Cut to $260 as TD Cowen Lowers Bitcoin Outlook Crypto Prowl Tue, June 30, 2026 at 11:27 PM GMT+7 2 min read MSTR BTC-USD BTC STRK Strategy Inc. (NASDAQ: $MSTR) is getting a vote of confidence from TD Cowen, but with a much lower price target attached to a weaker Bitcoin (CRYPTO: $BTC) outlook.
The firm cut its Strategy target to $260 from $400 while keeping a Buy rating on the stock. The reduction was tied mainly to TD Cowen's lower Bitcoin forecast, not Strategy's new Digital Credit Capital Framework.
TD Cowen now expects Bitcoin to end 2026 near $100,000, down from its prior estimate of about $140,000. Its 2027 forecast also moved lower, to roughly $135,000 from $190,000. The shift drove most of the target reduction, while the analysts left their assumptions for Strategy's future Bitcoin purchases unchanged and kept the earnings multiple at 3x.