Circle Internet Group sees $140 price target from Bernstein

Bernstein has maintained an ‘Outperform’ rating and a $140 price target for Circle Internet Group, suggesting a potential upside of approximately 59% from recent trading levels. Analysts argue that Circle’s growth cycle is increasingly independent of the legislative outcome of the CLARITY Act in the U.S. Congress.

This bullish outlook is supported by a recent resurgence in USDC supply, which grew by approximately $1.7 billion to $2 billion over a single week following a six-month period of stagnation. Bernstein noted that USDC’s share of adjusted stablecoin transaction volume has risen significantly, recently surpassing USDT in that specific metric.

Key drivers for Circle’s projected expansion include the adoption of USDC in decentralized finance, tokenized assets, prediction markets, and emerging use cases such as payments by autonomous AI agents. While Circle’s second-quarter revenue of $701 million was slightly below some analyst forecasts, its net income and earnings per share met or exceeded market expectations.