TD Cowen Raises Smarter Web Price Target to $0.99, Citing 90% Upside

TD Cowen has increased the price target for Bitcoin treasury company Smarter Web from $0.87 to $0.99, maintaining a buy rating. The upgrade follows the company's plan to launch a perpetual preferred stock IPO, codenamed "MORE," to expand capital financing channels. The proposed stock would feature cumulative floating-rate dividends, liquidation preferences, and redemption rights, though it would lack voting rights. The plan remains subject to shareholder and FCA approval. Smarter Web has reported a year-to-date BTC Yield of approximately 11.5%.