TD Cowen has reiterated its "Buy" rating for Sharplink (SBET), setting a price target of $16, which suggests a potential upside of 106% from its current stock price of $7.76. Sharplink, an Ethereum treasury company, reported over $12 million in revenue for Q1 and announced a joint venture with Galaxy Digital to establish a $125 million yield fund targeting DeFi and liquidity opportunities. The firm highlighted Sharplink's stock trading at a discount to its NAV per share of $9.68, presenting a favorable buying opportunity. TD Cowen identified stablecoins, tokenization, DeFi, and AI-driven agent finance as key factors driving Ethereum demand, supporting Sharplink's strategy. The company holds approximately 873,000 ETH, valued at around $2 billion.