TD Cowen cuts Sharplink price target to $13 on lower 2026 ether outlook
NEW YORK, Aug. 2. TD Cowen reduced its price target on Sharplink to $13, the firm said, after lowering its 2026 ether price forecast. The firm kept its long-term Ethereum investment thesis unchanged, framing the move as a near-term calibration rather than a structural shift on the asset or the company.
Key takeaways
- TD Cowen cut its price target on Sharplink to $13 after lowering its 2026 ether price forecast.
- The target reduction was driven directly by the firm's revised 2026 $ETH outlook, to which Sharplink's valuation is sensitive.
- TD Cowen kept its long-term Ethereum investment thesis unchanged, framing the move as a near-term calibration rather than a structural shift.
- The firm did not disclose a specific 2026 ether price figure, leaving the $13 target as the only concrete output of its revised model.
- TD Cowen disclosed the direction of its 2026 ether forecast revision but not the magnitude.
NEW YORK, Aug. 2. TD Cowen reduced its price target on Sharplink to $13, the firm said, after lowering its 2026 ether price forecast. The firm kept its long-term Ethereum investment thesis unchanged, framing the move as a near-term calibration rather than a structural shift on the asset or the company.
Target mechanics
The price target cut traces directly to TD Cowen's revised $ETH outlook for 2026. Sharplink's exposure to ether means the firm's model is sensitive to changes in the asset's expected price. Adjust the 2026 forecast, and the implied value for Sharplink shares follows.
No specific ether price figure for 2026 was disclosed in the firm's summary. The $13 target stands as the single concrete output of the revised model.
What TD Cowen held
The firm said its long-term Ethereum investment thesis remains intact. That distinction carries weight. A near-term forecast cut that leaves the thesis standing signals a timing adjustment, not a verdict on the asset. TD Cowen did not make a thesis cut.
For a company whose valuation tracks $ETH, the separation between short-term price outlook and long-term investment thesis is the relevant fault line in any analyst action. TD Cowen drew that line, keeping the long view in place while marking down one year's assumptions.
The revision leaves open what, specifically, changed in TD Cowen's 2026 ether forecast. The firm disclosed the direction of the move, not the magnitude.