Smarter Web Stock Valuation Nearly Doubles Amid Bitcoin Treasury Plans
Smarter Web, a company that manages Bitcoin as a treasury asset, has seen its stock valuation target nearly double from £0.64 ($0.87) to £0.73 ($0.99) according to TD Cowen's revised forecast.
The investment firm maintained its Buy recommendation for Smarter Web and expects the company's acquisitions to gradually increase until they reach 2025 levels.
TD Cowen's analysts believe that the introduction of MORE, a preferred-share plan, will provide an additional financing route for Smarter Web. The plan would pay investors weekly dividends with a varying rate, and ownership of MORE would not come with voting rights on shareholder matters.
The company reported a 11.5% year-to-date BTC Yield as of September 2, despite a drag from the July 23 repayment of the TOBAM conversion, which involved disposing of around 178 Bitcoin.