Bernstein cuts Circle price target to $140, says Open USD threat will fade

Bernstein cuts Circle's price target to $140 from $190, maintaining an Outperform rating, and suggests the Open USD threat will dissipate as USDC supply remains near an all-time high. This adjustment reflects evolving market dynamics, with Circle's stability potentially alleviating concerns about the Open USD's impact on the stablecoin market, boosting investor confidence.