Bernstein Keeps $230 Target on Circle Stock
Bernstein analyst maintains a $230 price target on Circle stock, highlighting the company’s liquidity edge, regulatory advantages and robust payment infrastructure. Circle’s USDC circulation surged 90% year-on-year to $61.3 billion in Q2, reaching $65.2 billion by August 10. The planned autumn testnet launch of Arc, a Layer 1 blockchain optimized for stablecoins using USDC as native gas, further supports growth prospects. In Q2, total revenue and reserve income rose 53% to $658 million, though a $482 million net loss was recorded due to IPO-related expenses. Analysts view Q3 as a critical period for progress.
Bullish
Bernstein’s continued $230 target underscores confidence in Circle’s expanding USDC supply and infrastructure innovations like the Arc blockchain. Historically, stronger stablecoin adoption has led to increased transaction volumes and market valuations for issuers. The 40% upside potential signals investor optimism. In the short term, traders may respond positively to USDC growth figures. Over the long term, Arc’s upcoming testnet and Circle’s regulatory and liquidity advantages could sustain price momentum. Monitoring Q3 performance and Arc milestones will be key for further market signals.