Rewards Hub JPMorgan has upgraded Circle's stock rating to 'Overweight' with a price target of $100, effective until December 2026. This decision follows Circle's robust Q3 earnings and strategic partnerships with Deutsche Börse, Finastra, Visa, and Itau. Despite facing competition from Tether and Hyperliquid, Circle's USDC has shown superior on-chain activity and market cap growth compared to USDT.
Currently, Circle's stock is trading at approximately $85, a decline from its initial public offering peak. The upgrade reflects confidence in Circle's market position and growth potential amid a competitive stablecoin landscape.
JPMorgan Upgrades Circle to 'Overweight', Sets $100 Price Target
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