BUSINESSTHE BLOCK
Bernstein cuts Circle price target to $140, says Open USD threat will fade
Bernstein reduced its price target for Circle from $190 to $140 while maintaining an 'Outperform' rating. The firm attributes the diminished threat from Open USD to stable USDC supply near all-time highs.
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Adjacent reporting
- Bernstein maintains $190 Circle price target as $222 million ARC presale cushions rate pressure
- Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat
- Bernstein sees 203% upside for Circle even as new stablecoin rival OUSD debuts
- Bernstein lifts Robinhood target to $160, sees prediction markets revenue overtaking crypto
- Bernstein sees Robinhood Q1 miss as priced in, maintains $130 target implying 58% upside
- Jefferies warns against buying the dip in Circle as Open USD raises new competition fears