TD Cowen Reaffirms 'Buy' Rating on Strategy and $260 Price Target

July 31st, TD Cowen reiterated its "Buy" rating on Strategy with a target price of $260, stating that the company's management has now clearly prioritized driving the STRC preferred stock price back to par value.

Prior to this, Strategy recorded an $8.2 billion loss in the second quarter; at a time when the company is building up its cash reserves, it has not purchased Bitcoin for the fifth consecutive week.