TD Cowen raises Smarter Web price target to $0.99, indicating 90% upside

TechFlow reports, on September 14, according to The Block, TD Cowen has raised its price target for Bitcoin treasury company Smarter Web from $0.87 to $0.99, maintaining a Buy rating, representing approximately 90% upside from the current share price. The rationale for the adjustment is the company's plan to launch an IPO for perpetual preferred shares codenamed "MORE", which will further expand its capital market financing channels. The MORE shares are expected to feature cumulative floating-rate dividends (paid weekly), liquidation preference, and redemption rights, but no shareholder voting rights; the proposal remains subject to approval by shareholders and the FCA. Additionally, Smarter Web's year-to-date BTC yield is approximately 11.5%. TD Cowen also forecasts a baseline year-end price target for Bitcoin at $100,000, with an optimistic scenario reaching $175,000.