Bernstein rates Circle Outperform with a $140 price target

Bernstein analysts have initiated an Outperform rating on Circle and set a $140 price target, according to a BlockBeats report published on Aug. 24. The analysts said Circle’s current growth cycle does not depend on the progress of the U.S. Clarity Act, pointing instead to recent operating data tied to USDC. They noted that USDC supply increased by $1.7 billion over the past week. At the same time, USDC has continued to expand its market share in stablecoin trading volume. In Bernstein’s view, those trends indicate that Circle’s business momentum is still strengthening. The call centers on Circle’s core stablecoin business rather than a policy catalyst alone. The note suggests the firm sees continued growth in underlying usage and circulation metrics even without relying on near-term legislative progress in the United States.