TD Cowen down 58% of Nakamoto's target price remains “buy-in”

On 28 July, the Wall Street Investment Bank (TD Cowen) downgraded the target price of the Bitcoin Treasury, Nakamoto Inc. (NASDAQ: NAKA), reducing the target price of the stock-breaking adjustment from $40 to $17, or 58 per cent, but maintaining the "buy-in" rating. TD Cowen Analyst stated that the adjustment was due mainly to the pressure placed on Nakamoto ' s high-debt capital structure by the drop in bitcoin prices. Although the new target price still represents about 275 per cent of the increase compared with the current share price of $4.65, corporate equities are more sensitive to price fluctuations in foreign currencies。