Smarter Web Price Target Jumps 90% on New Preferred Share Plan

TD Cowen has raised its price target for The Smarter Web Company to £0.73 ($0.99) from £0.64 ($0.87), implying a roughly 90% upside from Monday's share price of £0.385 ($0.52).

The investment bank retained its Buy rating for the Bitcoin treasury firm after it proposed a new perpetual preferred-share offering, called MORE, which could provide another source of long-term capital.

TD Cowen analysts expect Bitcoin to reach roughly $100,000 by December in their base case, with upside and downside scenarios of $175,000 and $25,000, respectively.