Bernstein sees 203% upside for Circle even as new stablecoin rival OUSD debuts
The Block·
60-second summary
Bernstein reaffirms its Outperform rating on Circle with a $190 target, despite the recent launch of OUSD, a new stablecoin rival, which caused Circle's stock to plummet over 17%. Bernstein sees a 203% upside in Circle's stock price, indicating confidence in the company's long-term prospects despite short-term market volatility and increased competition in the stablecoin space.
Bernstein reaffirms Outperform on Circle with a $190 target after OUSD's launch sent CRCL stock down over 17%.