TD Cowen 'Smarter Web, up 90%'..Did Bitcoin (BTC) strategy work?

▲ Bitcoin (BTC)/AI generated image

The Smarter Web Company (hereinafter Smarter Web), a Bitcoin (BTC) finance company, has been recognized for a potential upside of approximately 90% due to TD Cowen's upward revision of its price target.

According to crypto media outlet The Crypto Basic on September 14 (local time), TD Cowen raised Smarter Web's target price from 0.64 pounds to 0.73 pounds and maintained its 'buy' rating. The new target price is approximately 90% higher than Monday's market price. The price target adjustment reflects Smarter Web's preferred share financing plan, MORE.

TD Cowen's analysis team, led by Lance Vitanza, noted that MORE could add long-term funding. MORE pays weekly dividends to investors, with variable dividend rates. Unpaid dividends accrue, and preferential rights and redemption clauses apply upon liquidation, but no voting rights are provided. Shareholder approval and prospectus approval from the UK Financial Conduct Authority (FCA) are still pending.

Smarter Web's Bitcoin financial performance was also reflected in the target price calculation. The company's aggregated Bitcoin return from the beginning of the year to September 2 was approximately 11.5%. However, the disposal of approximately 178 BTC during the TOBAM conversion-related redemption process on July 23 caused a burden of approximately 420 basis points on the return.

TD Cowen also presented a wide range of scenarios for Bitcoin's price in December. The base forecast is $100,000, with a bullish scenario of $175,000 and the weakest scenario at $25,000. TD Cowen expects Smarter Web's Bitcoin acquisition pace to gradually accelerate, approaching 2025 fiscal year levels.

Smarter Web is simultaneously expanding its long-term financing using preferred shares and its Bitcoin financial strategy. TD Cowen raised its target price and maintained a 'buy' rating, reflecting the funding effect of MORE and a Bitcoin return of 11.5%.

[Article Summary]

-TD Cowen raised Smarter Web's target price from 0.64 pounds to 0.73 pounds and maintained a 'buy' rating.

-The new target price is approximately 90% higher than Monday's market price, with the preferred share financing plan MORE cited as the key reason for the upgrade.

-Smarter Web's year-to-date Bitcoin return is approximately 11.5%, and TD Cowen's base forecast for Bitcoin in December is $100,000.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*