[TD Cowen Reaffirms Sharplink 'Buy' Rating: Maintains $16 Target Price, Sees 106% Upside Potential] Odaily Planet Daily News - Investment bank TD Cowen reaffirmed its 'Buy' rating for Sharplink following the release of its Q1 earnings report and maintained a $16 target price, implying approximately 106% upside potential compared to the current stock price of $7.76. Sharplink's Q1 revenue exceeded $12 million, and the company announced a joint establishment of a $125 million yield fund with Galaxy Digital, with Sharplink contributing approximately $100 million. The fund will focus on DeFi and liquidity yield opportunities, targeting returns higher than base staking yields. The analyst team believes the current stock price is in a 'favorable allocation window,' primarily driven by the ongoing NAV discount and expanding demand for Ethereum. Sharplink currently holds approximately 873,000 ETH (around $2 billion), corresponding to a net asset value (NAV) of approximately $9.68 per share, while the stock price remains at a roughly 20% discount to NAV. TD Cowen highlighted that the partnership with Galaxy strengthens Sharplink's yield strategy, enabling it to enhance capital efficiency through institutional-grade DeFi opportunities while maintaining its ETH exposure. (The Block)