The analytical department of TD Cowen investment bank has revised the target share price of SharpLink Gaming, reducing it from $16 to $13. This decision is due to the weak price dynamics of the Ethereum cryptocurrency in the second quarter of 2026, as well as continuing delays in the formation of a clear regulatory framework. Experts have also adjusted the macroeconomic forecast for the value of Ethereum, setting a new target for the end of this year at $ 2,370, which is significantly lower than the previous estimate of $ 3,650. In the long term, analysts predict a gradual recovery of the asset, expecting it to reach $3,347 by the end of 2027, $4,554 by the end of 2028 and $5,969 by the end of 2029.

The key factor that triggered the revision of forecasts was the slower-than-expected implementation of federal regulations for tokenized financial assets in the United States. In particular, analysts point to delays in the adoption of the CLARITY Act bill, which was supposed to provide legal certainty for market participants. Despite the decrease in short-term expectations, TD Cowen confirmed the immutability of its investment strategy for SharpLink Gaming. The bank praised the company's capital allocation actions in June, which included raising direct financing in the amount of $75 million, acquiring 10,000 units of Ethereum and repurchasing 2.13 million ordinary shares at an average price of $4.69 per paper.

According to financial analysts, by the end of this year, the volume of Ethereum coins accumulated by SharpLink Gaming will reach 940,000 units, which will provide a net asset value of $ 9.13 per share. More accurate forecasts will be available after the publication of the official quarterly report in August. At the time of writing, the company's shares under the SBET ticker are trading around $6, having increased by more than 5 percent over the past week. It is worth noting that SharpLink Gaming's management had previously criticized the aggressive crypto asset management model popularized by Michael Saylor at Strategy, emphasizing the need for a more balanced approach to corporate treasury reserves.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.