Bernstein Sees 59% Upside for Circle, Says Growth Independent of Clarity Act
CRCL sits 77% above its 52-week low of $49.9 on elevated volume (1.9× avg).
Summary
Bernstein maintained an Outperform rating and $140 price target on Circle, implying 59% upside from Friday's close. The analysts argue Circle's growth cycle is independent of the Clarity Act, citing a macro regime shift favoring stablecoins and bitcoin. They highlight USDC's $1.7 billion supply increase over the past week after six months of decline, Circle's 80% share of decentralized-exchange volumes, and rapid adoption of its Agent Stack with over 900 paid services. The note also points to adjusted stablecoin transaction volume tracking at an annualized $17 trillion through July, up 60% year over year. This follows Circle's Q2 return to profitability and OCC approval for a national trust bank, reinforcing the positive fundamental backdrop.
At the time of this announcement, CRCL was trading at $88.36 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $22.3B. The 52-week trading range was $49.90 to $159.47. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.