SBET Price Targets Slashed to $13 on CLARITY Act Delays: TD Cowen Says ETH Will Suffer

TD Cowen cut its price target on SharpLink Gaming ) from $16 to $13 on Thursday, blaming the CLARITY Act delays for pushing back the tokenization timeline that underpins the bull case.Why TD Cowen Cut The Target?Analysts Lance Vitanza and Jonnathan Navarrete said in a note cited by The Block that the direct driver is their ETH price model, not anything company-specific.Their year-end 2026 Ethereum forecast dropped from roughly $3,650 to $2,371, mechanically pulling the SBET price target down with it.Multi-year forecasts were also trimmed, with 2027 cut to $3,347, 2028 to $4,554, and 2029 to $5,969.The analysts explicitly blamed slower-than-anticipated progress on the tokenization regulatory framework, pointing to Clarity Act delays as the key factor pushing back their timeline.TD Cowen kept its Buy rating intact, with the $13 target implying roughly 103% upside from SBET’s July 30 close of $6.41.This Is A Sector-Wide Repricing, Not Just SBETTD Cowen applied the same lower crypto price deck logic across its entire digital asset treasury coverage on the same day, cutting Strategy Inc. ) to $350 from $440.Two other firms have made similar moves in recent weeks.FirmStockOld TargetNew TargetTD CowenSBET$16$13Citizens JMPSBET$40$30Cantor FitzgeraldSBET$10.50$8.10Every cut is pointing at the same two variables: a lower ETH price expectation and CLARITY Act delays pushing back the tokenization timeline.What Is Still Going Right For SharpLinkTD Cowen’s note was a trimmed number, not a bear call. The firm pointed to SharpLink’s June capital moves as evidence the company is executing its treasury strategy regardless of where the price deck sits.SharpLink June 2026 Capital ActivityActionDetailRegistered-direct raise$75 millionETH purchase10,000 ETHShare buyback2 million+ shares at $4.69 averageUnder the updated framework, TD Cowen projects SharpLink’s ETH treasury reaching roughly 940,000 ETH by year-end 2026, with net asset value of $9.13 per share against a stock currently trading at $6.41 — a 42% discount to NAV at current price.Meanwhile, SharpLink reports Q2 results on August 10, the same day the Senate leaves for recess, making the earnings call a direct read on how management views the Clarity Act delay.Where Does SBET Stand Technically?.benzinga-widget#bz-embed-widget-block_7f710b2fd6e5f947250ea65e3fe3048c iframe.w-full {width: 100%; }SBET is down 8% on Friday, pulling back after failing to hold above the $6.20 to $6.30 descending trendline that has capped every rally since February.The Supertrend flipped green at $5.23, the only constructive signal, while the 20-day and 50-day EMAs cluster together near $5.95 to $5.96 as near-term support.A break above $6.63 completes the cup formation with a target toward $8. Failing here puts $5.23 back in play.Key levels for SBET:$6.30 — descending trendline, resistance to clear$6.63 — 100-day EMA, breakout confirmation level$5.95 to $5.96 — EMA cluster support$5.23 — Supertrend floor Read Also: CLARITY's Chances Are 50-50, Bitwise Exec Says: 'The Industry Will Be too Big to Kill' Photo via Shutterstock