TD Cowen Spots 3 New Crypto Plays with Over 100% Upside
TD Cowen recently initiated coverage of several crypto-linked stocks and maintained its 'Buy' rating for Strategy (MSTR), despite lowering its price target to $350 from $440.
The firm expects Bitcoin's price to reach approximately $140,000 by year-end, representing nearly 50% upside. It also set a price target of just $1 on Nakamoto, indicating it doesn't expect the company to be delisted for trading below the qualifying threshold since late October last year.
TD Cowen initiated coverage with a 'Buy' rating for Strive Asset Management (ASST), SharpLink Gaming (SBET), and Nakatomo, with price targets of $26, $16, and $1 respectively. The firm expects Ethereum's price to reach $3,650 by year-end.
Nakamoto announced it is seeking a reverse stock split to avoid Nasdaq delisting. Its Bitcoin accumulating peer Strive got a 'Buy' rating from TD Cowen, with a price target of $26 representing a potential upside of 165% from Thursday's close of $9.81.