Bernstein cuts Circle price target to $140, says Open USD threat will fade
The Block·
60-second summary
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.
Bernstein cuts Circle price target to $140 from $190, keeps Outperform, and says the Open USD threat fades as USDC supply holds near ATH.