Strategy Inc (NASDAQ:MSTR) shares surged 22% Friday as TD Cowen maintained its $440 price target, arguing there is “no reasonable scenario” forcing the company to sell Bitcoin (CRYPTO: BTC) despite trading underwater on its holdings. The Bull Case Amid Carnage TD Cowen analysts Lance Vitanza and Jonnathan Navarrete said Strategy is “better positioned than ever” to participate in a potential recovery, even as the premise looks strained amid steep declines.