As reported by Biji.com, Wolfe Research analyst Darrin Peller has initiated coverage of Circle (CRCL) with a 'sell' rating and a $60 price target, implying a 30% decline from the current $78. The downgrade is attributed to potential Federal Reserve rate cuts, which could threaten Circle's interest income—accounting for over 96% of its projected $2.75 billion in 2025 revenue—and intensifying market competition. Despite a 180% rise since its June IPO, the stock has dropped 40% in the past month and is down about 60% from its summer high.
Wolfe Research Downgrades Circle (CRCL) to 'Sell' with $60 Price Target
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