Mizuho bearish on Circle’s shares, sees stock falling to $70 amid earnings and competition risks
The Block
Mizuho Securities lowered its base case price target for Circle shares to $70 due to risks concerning interest rates, USDC circulation, and competition.Summary
Mizuho Securities has become more bearish on Circle Internet Group's shares (CRCL), reducing its base case price target from $84 to $70. Analysts cited medium-term risks to earnings, including anticipated interest rate cuts, stagnant USDC circulation, and increasing distribution costs amid growing stablecoin competition. USDC is the world's second-largest stablecoin by supply. Circle's stock, which debuted via a blockbuster IPO in June, previously traded as high as $250. Mizuho's bearish target is $38, while its bull case target is $251. This view contrasts with JPMorgan analysts, who recently upgraded Circle's shares to "overweight" with a $100 target by December 2026.
(Source：The Block)