Odaily Planet Daily News - Japan's Mizuho Securities has initiated coverage on Circle (CRCL) stock with an 'underperform' rating, setting a target price of $85, indicating significant downside potential from the current price of approximately $205. Mizuho analysts believe the market has overestimated the medium-term growth potential of USDC, with major risks including interest rate cuts, stagnation in USDC circulation, and high distribution costs. Circle's USDC market capitalization is approximately $62 billion, making it the second largest globally, behind Tether. Mizuho pointed out that Circle's projected revenue target of $4.5 billion for 2027 may be overestimated by 25%-30%. Despite Circle applying for a banking license and enhancing compliance transparency, new regulations such as the GENIUS Act may increase competition. However, Bernstein is optimistic, setting a target price of $230, highlighting its potential as the 'internet dollar network' for the next decade.

#USDC