TD Cowen maintains $16 price target for Sharplink

TD Cowen has maintained its Buy rating and $16 price target for Ethereum accumulator Sharplink (SBET). According to The Block, Sharplink currently holds approximately 873,000 ETH, worth around $2 billion at current market prices. This translates to about $9.68 per share. The company's stock closed at $7.76 yesterday, trading at approximately 0.8 times its net asset value (NAV). TD Cowen noted that the stock's low price is becoming increasingly difficult to justify, considering the firm's capital efficiency and the growing demand for ETH.