# Пов'язані статті щодо Market Weakness

TD Cowen Lowers Target on SharpLink Amid Weakness in ETH

Analysts at TD Cowen have lowered their price target for SharpLink Gaming (SBET) from $16 to $13. This adjustment cites weak Ethereum (ETH) performance in Q2 and regulatory delays, particularly concerning the CLARITY Act in the US. Consequently, TD Cowen has also revised its year-end 2024 Ethereum price forecast down to $2,370, a significant cut from the previous $3,650 target. However, longer-term projections for ETH remain optimistic, with targets of $3,347 by end-2027, $4,554 by end-2028, and $5,969 by end-2029. Despite the near-term headwinds, TD Cowen maintains its core investment thesis on SharpLink. The firm highlights SharpLink's recent capital allocation, including a $75 million direct funding round, the purchase of 10,000 ETH, and a buyback of 2.13 million common shares at an average price of $4.69. The bank estimates SharpLink's accumulated ETH holdings could reach 940,000 by year-end, with a projected net asset value of $9.13 per share. More precise guidance is expected after the company's quarterly report in August. At the time of writing, SBET shares were trading around $6, having gained over 5% in the past week.

cryptonews.ru22 год тому