PANews, July 31: According to The Block, investment bank TD Cowen has lowered its price target for Sharplink Gaming (stock symbol: SBET) from $16 to $13 while maintaining a "Buy" rating, primarily due to a downward revision of its Ethereum (ETH) price forecast for the end of 2026. The firm reduced its end-2026 ETH forecast from approximately $3,650 to $2,371 and simultaneously lowered its estimates for 2027–2029, citing slower-than-expected regulatory progress at the U.S. federal level regarding tokenized financial assets and delays in related legislation, including the CLARITY Act.
TD Cowen lowers Sharplink's target price to $13, maintains 'Buy' rating
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Summary
TD Cowen lowered its target price for Sharplink (SBET) to $13 from $16 on July 31, 2026, while maintaining a 'buy' rating. The adjustment followed a downward revision of its 2026 ETH price forecast to $2,371 from $3,650. The bank also reduced its ETH price projections for 2027–2029, citing sluggish U.S. regulatory progress on tokenized assets and delays in the CLARITY Act.
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