Jpmorgan Jpmorgan of Wall Street (JPM) Initiated cover of the Stablecoin transmitter circle (CRCL) With an insufficient note and a disappointing price of $ 80.
The shares were negotiated 4.5% at around $ 189 at the time of publication.
The circle is well positioned, said the bank, and its Stablecoin USDC has an “early advantage”, with increasing use cases in payments.
“We are thinking of the Circle management team and are confident in the growth perspectives of Stablescoin and the USDC,” wrote Kenneth Worthington.
However, analysts consider the market capitalization of the company to be high and launched coverage with a under-pondered note. The price of $ 31 per share in its first public public call (IPO)And reached a record of $ 299 last Monday.
The other Wall Street analysts were not as lower. The Bernstein broker launched a coverage with an outperformance note and a price target of $ 230, saying that Circle was a “essential of investors”.
“CRCL is building a network of digital stablecoin at the head of the market, with a solid regulatory advantage, a liquidity internship and marking distribution partnerships,” wrote analysts led by Gautam Chhugani.
Bernstein is also optimistic about the wider market for stablescoin and expects total market capitalization to reach around 4 billions of dollars over the next decade, against $ 225 billion today.
The Rival Canaccord Genuity broker started coverage of Circle with a purchase note and a price target of $ 247.
The company’s analysts consider the USDC issuer as “having many key attributes that could make it a long -term winner in this potentially very large and new market for truly digital money”.
Find out more: Circle Mania seizes South Korea while retail investors accumulate in the stablecoin game
