According to The Block, Bernstein has maintained its "Outperform" rating on Circle Internet Group (CRCL) with a price target of $190, representing approximately a 44% upside from Monday’s closing price of $131.76. Analyst Gautam Chhugani noted that Circle’s $222 million ARC token pre-sale at a $3 billion fully diluted valuation provides the company with near-term cushion to offset pressure from an 11% quarter-over-quarter decline in reserve income due to weakening interest rates.
Bernstein Maintains 'Outperform' Rating on Circle with $190 Price Target
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Summary
Bernstein maintains an 'Outperform' rating on Circle with a $190 crypto price target. The rating follows a $222 million ARC token presale at a $3 billion valuation, offsetting an 11% decline in reserve income. Analyst Gautam Chhugani noted the move as a buffer amid falling interest rates. On-chain data shows the stock closed at $131.76, leaving 44% upside potential.
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