Circle shares tap $90 as Bernstein sees ‘clear divergence from crypto,’ Mizuho flags Polymarket boost

Shares of Circle (CRCL) briefly surpassed $90 following a strong fourth-quarter performance that exceeded expectations for revenue and adjusted EBITDA, leading analysts to issue positive notes. Bernstein maintained an "outperform" rating with a $190 price target, highlighting a "clear divergence from crypto" and citing stronger transaction revenue, including blockchain rewards and increased USDC held directly on Circle's platform. Circle projects 40% annual compounding growth for USDC in circulation. Conversely, Mizuho analysts raised their price target to $90 but kept a "neutral" rating, noting that increased activity on prediction markets like Polymarket is a meaningful contributor to recent USDC growth, offering a visible use case. Mizuho also views "agentic AI" as a long-term potential driver for USDC demand, though they cautioned that anticipated interest-rate cuts pose a risk since reserve income remains the primary revenue source for Circle.

(Source：The Block)