TD Cowen Cuts MicroStrategy Target to $350; Analysts See 192% Upside
TD Cowen trimmed MicroStrategy’s target to $350 from $440, citing lower Bitcoin price expectations for the firm holding over $55 billion of Bitcoin, while Wall Street’s consensus price target of $374 implies 192% upside from current levels. Executive Chair Michael Saylor dismissed quantum computing threats as theoretical and decades away.
1. Analyst Price Target Revision
TD Cowen cut MicroStrategy’s price target to $350 from $440, reflecting a reduced multiple on projected Bitcoin gains and revised outlook for future BTC prices. The company remains the largest corporate Bitcoin holder with 766,970 coins acquired at a total cost of $58 billion, and its shares have declined roughly 60% over the past year.
2. Wall Street Upside Projection
MicroStrategy shares traded near $128.30 as analysts maintained a consensus target of $374.07, implying about 192% upside from current levels. Bullish forecasts hinge on the firm’s aggressive Bitcoin accumulation strategy, though market volatility and potential regulatory changes pose risks to that outlook.
3. Saylor’s Quantum Risk Comments
Executive Chair Michael Saylor characterized quantum computing threats to Bitcoin as theoretical and unlikely to become material for decades, arguing that the crypto industry can develop solutions before such risks emerge. He also suggested Bitcoin likely bottomed near $60,000 in February and expects future bull-market catalysts from the expansion of banking and digital credit.