TD Cowen analysts: Bitcoin is expected to reach a new high in Q3, maintain "Buy" rating on Strategy stocks

Foresight News reported, according to Barron's, TD Cowen analyst Lance Vitanza stated that although Strategy's stock price has dropped 30% this year, the company is capable of withstanding a deeper bitcoin crash. Lance Vitanza maintained a "Buy" rating on Strategy, with a target price of $440. He pointed out that Strategy holds $2.25 billion in cash reserves, enough to cover nearly 17 months of approximately $900 million in fixed expenses, and can cover the potential redemption of $1 billion in convertible bonds due in September 2027. This financial position is not affected by bitcoin price fluctuations. In addition, TD Cowen predicts that bitcoin prices will eventually rebound and are expected to reach a new all-time high in the third quarter of 2026.