According to The Block, TD Cowen maintained its $260 price target on Strategy (MSTR) while noting that dilution constraints will limit the company’s shareholders from fully realizing benefits associated with more optimistic bitcoin forecasts.
The investment firm’s analysis indicates that even as outlooks for bitcoin improve, existing shareholder equity is affected by ongoing dilution effects. TD Cowen did not adjust its price target under these conditions.
No additional details on timing, magnitude of dilution, or specific forecast changes were provided. The statement reflects the firm’s current assessment at the time of reporting.
