TD Cowen cuts Smarter Web Company's price target 36% to £0.64 on revised bitcoin outlook while maintaining Buy rating.
Macro & Markets ·
TD Cowen cut Smarter Web Company's price target to £0.64, representing a 36% reduction from the prior level. The analyst maintained a Buy rating on the stock despite the downward revision.
The adjustment reflects changes to TD Cowen's bitcoin forecasts and assumptions around treasury positioning. No prior price target or timeline for the cut has been disclosed in available materials.
The specifics of the revised bitcoin outlook driving the reduction remain undetailed, as do any other factors influencing the treasury assumptions or why the Buy rating persisted following the significant target cut.