
TD Cowen analyst Lance Vitanza initiated buy ratings on three digital asset treasury companies: Nakamoto (NAKA) with $1.00 target, SharpLink Gaming (SBET) with $16 target, and Strive (ASST) with $26 target. Each stock declined over 90% from peaks. Vitanza believes they could outperform spot crypto ETFs if prices recover and firms expand token holdings per share. Companies hold bitcoin, ether, or both as treasury assets.