TD Cowen sees 170% upside for Strategy stock

Research and brokerage firm TD Cowen has assessed that Strategy's stock has 170% upside potential, despite a recent decline in Bitcoin's price and the company's mNAV (the ratio of its market cap to the value of its BTC holdings). According to The Block, TD Cowen stated that demand for Strategy will be sustained by its potential inclusion in the S&P 500 and an improving regulatory environment in the U.S. The firm also projected that Strategy will hold 815,000 BTC by 2027.