SharpLink Gaming Price Target Cut to $13 Amid CLARITY Act Delays

TD Cowen has cut its price target on SharpLink Gaming (NASDAQ:SBET) to $13, citing delays in the CLARITY Act as a key factor. The analysts blame slower-than-anticipated progress on tokenization regulatory framework and point to Clarity Act delays as the main driver of this change.

The reduced price target is based on their Ethereum (CRYPTO: ETH) forecast, which has been trimmed from $3,650 to $2,371. This decrease in the ETH price expectation has a ripple effect, pulling down SharpLink's price target with it.

TD Cowen kept its Buy rating intact but adjusted its digital asset treasury coverage across multiple firms, including Strategy Inc. (NASDAQ:MSTR), which was cut to $350 from $440. The same logic of lower ETH price expectation and CLARITY Act delays has been applied to these firms as well.