TD Cowen Cuts SharpLink Price Target Amid Ethereum Weakness

TD Cowen analysts have revised their price target for SharpLink Gaming shares down to $13 from $16 due to weak Ethereum performance in the second quarter and regulatory delays. This decision was based on slower implementation of a federal regulatory framework for tokenized financial assets in the U.S., including delays in passing the CLARITY Act.

The analysts also revised their year-end forecast for Ethereum, now expecting it to be $2370 instead of the previous estimate of $3650. In the longer term, they predict Ether will reach:

$3347 by the end of 2027;

$4554 by the end of 2028;

$5969 by the end of 2029.

SharpLink's accumulated Ethereum holdings are expected to be around 940,000 by year-end, with a net asset value of $9.13 per share. However, more precise forecasts will be possible after the quarterly report in August, according to the bank's estimates.