TD Cowen slashes Sharplink target to $13 as ether outlook cools

Wall Street is dialing back the hype on Ethereum's medium-term trajectory. TD Cowen analysts just chopped their price target for Sharplink to $13, a direct reaction to a downgraded 2026 forecast for the world's second-largest cryptocurrency. It's a sobering adjustment for investors who've watched ether struggle to maintain its post-ETF momentum. Despite the immediate haircut, the bank isn't abandoning ship. The analysts kept their long-term investment thesis for Ethereum intact, signaling they still believe in the network's fundamental utility even if the next two years look leaner than expected. They're betting on the tech, just not at the valuations they previously predicted. This pivot reflects a broader shift among institutional researchers who are now forced to reconcile lofty crypto roadmaps with stubborn market realities. Sharplink's stock will likely feel the gravity of this revision until ether proves it can outperform these lowered bars. Will other major desks follow suit and trim their 2026 projections before the year ends?