JPMorgan upgrades target for Circle shares amid new partnerships, ‘solid’ earnings
JPMorgan upgraded Circle shares to "overweight" due to solid Q3 results and significant new partnerships.Summary
JPMorgan analysts upgraded Circle shares from Underweight to Overweight, setting a new price target of $100 by December 2026, citing the stablecoin issuer's solid third-quarter 2025 results that exceeded expectations. The upgrade reflects improving fundamentals and a growing pipeline of substantial corporate partnerships, including those with Deutsche Börse, Finastra, Visa, and Itau, which are expected to boost USDC market share and improve margins in 2026. Although Circle benefits from an early-mover advantage, JPMorgan acknowledges strong competition from Tether (USDT) and emerging stablecoins like Hyperliquid's USDH. The overall stablecoin market is poised for further growth following the passage of the U.S. government's stablecoin framework, the GENIUS Act.
(Source：The Block)