Bernstein gives SharpLink an "outperform" rating! Target price of $24 by 2026, ETH will pump to $15,000 in five years.

Wall Street investment bank Bernstein has given the Ethereum treasury company SharpLink Gaming an “Outperform” rating, setting a target price of $24, implying a 75% upside potential from the current price. They are optimistic about its role as a key vehicle for institutions to invest in Ethereum returns. (Background: SharpLink raised $76.5 million to “increase the position in Ethereum,” holding 840,000 ETH with unrealized gains of $330 million) (Additional background: SharpLink Gaming has initiated a $1.5 billion stock buyback plan, with an initial buyback of 940,000 shares of SBET) The renowned Wall Street investment bank Bernstein officially launched its research rating on the Ethereum treasury company SharpLink Gaming (stock code: SBET) on Thursday, giving it an “Outperform” rating and a target price of $24 by the end of 2026, suggesting a 75% upside room for SBET from its current level. How does Bernstein value SharpLink? The report indicates that Bernstein values SharpLink based on its net asset value (NAV) of Ethereum treasury holdings, applying a 15% premium due to the company's capability to generate stable long-term returns. Analysts estimate that SharpLink is expected to achieve a 3.4% compound annual growth rate (CAGR) in perpetual returns over the next 10 years through ETH staking, value-added ETH purchases, stock buybacks, and other on-chain strategies. The report positions SharpLink as a “leading Ethereum treasury company,” currently holding 860,299 ETH, accounting for approximately 0.7% of the total Ethereum supply, with a net asset value of ETH reaching $3.6 billion. The report believes that SharpLink's competitive advantage comes not only from its holdings but also from its institutional-grade background and ecological layout. The company has deep integration with the Consensys ecosystem, co-founded by Ethereum co-founder Joe Lubin, who also serves as chairman of SharpLink. Bernstein particularly points out the collaboration between SharpLink and Consensys's Layer 2 network Linea, where SharpLink plans to deploy $200 million worth of ETH, expecting to generate additional returns through staking, re-staking, and liquidity mining. Therefore, analysts believe that as SharpLink continues to accumulate ETH, execute stock buybacks, and engage in moderate leverage, the discount space for SharpLink stock is expected to gradually converge. With the global interest rate environment shifting towards easing, Bernstein predicts that investors will be more actively seeking Ethereum yield-generating assets, with SharpLink becoming a key vehicle for institutional funds to enter the market. Bernstein reiterates its positive outlook on Ethereum In assessing Ethereum's long-term value, Bernstein criticizes the valuation method of “viewing ETH as a technology stack,” believing it is too narrow, emphasizing that its core function is to ensure the security of the tokenized economy rather than pursuing income maximization. They see ETH as a network reserve asset, with its value growing alongside on-chain economic activity. The report predicts that the total scale of Ethereum's native tokenized assets (including Layer 1 and Layer 2 stablecoins) will expand from approximately $172 billion currently to $5 trillion by the end of 2035. Correspondingly, Bernstein reiterates its long-term forecast for ETH prices: reaching $15,000 in 2030 and $25,000 in 2035. SharpLink stock performance According to Google Finance data, SharpLink has risen 68% year-to-date due to the establishment of its Ethereum treasury, with a market capitalization of about $2.58 billion. Due to its Ethereum reserve strategy, the stock price has seen two peaks within the year, at the end of May and mid-July, with prices of $79 and $36 respectively. Related reports Ethereum treasury" BitMine and SharpLink continue to increase positions, US pharmaceutical company Propanc Biopharma plans to buy $100 million in ETH over the next year. SharpLink announces “compliance with NASDAQ regulations”: increasing ETH positions does not require additional shareholder approval! Trend analysis" Can Ethereum ETH lead Bitcoin in this cycle? SharpLink's view is very optimistic. <Bernstein gives SharpLink an “Outperform” rating! Target price of $24 in 2026, ETH to rise to $15,000 in five years.> This article was first published in BlockTempo "BlockTempo - The most influential blockchain news media.