TD Cowen Raises Target Price for Smarter Web Company to $0.99 Amid BTC Reserves

Global investment bank TD Cowen has raised its target price for UK-listed company Smarter Web Company (The Smarter Web Company), which holds Bitcoin (BTC) reserves, from £0.64 ($0.87) to £0.73 ($0.99), according to The Block.

The adjustment reflects the company's planned initial public offering (IPO) of perpetual preferred shares MORE. Smarter Web previously announced it aims to list MORE on the London Stock Exchange (LSE) to raise up to £25 million ($453 million), while currently holding 2,747 BTC.