Huo Xing Cai Jing reports that on August 6, Bernstein reaffirmed its "Outperform" rating on Circle with a price target of $140, stating that its Q2 financial results countered market concerns regarding competition and declining reserve income. The analysts noted that the market may have underestimated Circle’s distribution capabilities, regulatory standing, and the additional revenue streams provided by its Layer 1 network, Arc.
Bernstein Reaffirms Overweight Rating on Circle with $140 Price Target
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Summary
Bernstein has reaffirmed its 'Overweight' rating on Circle, maintaining a $140 price target. On-chain analysis indicates that Q2 results alleviated concerns regarding competition and reduced reserve income. The firm notes that the market may be underestimating Circle’s distribution, regulatory strength, and on-chain data from its Layer 1 network, Arc.
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