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Buy ratings, the formal recommendation that a stock is expected to outperform the broader market, held firm at TD Cowen and Benchmark after Strategy reported an $8.2 billion second-quarter loss.
Both firms also backed a corporate push to bring the company's STRC preferred stock to par, as founder Michael Saylor signaled movement away from his "100% bitcoin" approach.
Two firms, one conclusion TD Cowen and Benchmark each reiterated buy ratings on Strategy after the Q2 results. Reiterated is the operative word.
The firms are holding their existing calls despite a loss of $8.2 billion in a single quarter. The source does not detail why each firm maintained its position beyond noting support for the company's cash buildup.
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