{"id":34411,"date":"2025-06-30T14:31:54","date_gmt":"2025-06-30T14:31:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34411"},"modified":"2025-06-30T14:31:54","modified_gmt":"2025-06-30T14:31:54","slug":"circle-valuation-is-outside-our-comfort-zone-initiate-at-underweight-jpmorgan","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34411","title":{"rendered":"Circle Valuation Is &#8216;Outside Our Comfort Zone,&#8217; Initiate at Underweight: JPMorgan"},"content":{"rendered":"<div>\n<p>Wall Street heavyweight JPMorgan (JPM) initiated coverage of stablecoin issuer Circle (CRCL) with an underweight rating and an underwhelming $80 price target. <\/p>\n<p>The shares were trading 4.5% higher at around $189 at publication time.<\/p>\n<p>Circle is well positioned, the bank said, and its USDC stablecoin has an &#8220;early-mover advantage,&#8221; with growing use cases in payments. <\/p>\n<p>&#8220;We think highly of the Circle management team and are confident in the outlook for outsized stablecoin and USDC growth,&#8221; analysts led by Kenneth Worthington wrote.<\/p>\n<p>Still, the analysts see the company&#8217;s market capitalization as elevated, and initiated coverage with an underweight rating. The stock priced at $31 a share in its initial public offering (IPO), and hit a record high of $299 last Monday.<\/p>\n<p>Other Wall Street analysts were not as bearish. Broker Bernstein initiated coverage with an outperform rating and a $230 price target, saying Circle was an &#8220;investor must-hold.&#8221;<\/p>\n<p>&#8220;CRCL is building a market-leading digital dollar stablecoin network, with a strong regulatory edge, liquidity headstart and marquee distribution partnerships,&#8221; analysts led by Gautam Chhugani wrote.<\/p>\n<p>Bernstein is also bullish about the wider stablecoin market, and expects total market cap to reach around $4 trillion in the next decade from $225 billion today.<\/p>\n<p>Rival broker Canaccord Genuity started coverage of Circle with a buy rating and a $247 price target.<\/p>\n<p>The firm&#8217;s analysts view the issuer of USDC as &#8220;having many of the key attributes that could make it a long-term winner in this potentially very large and new market for truly digital money.&#8221;<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/27\/circle-mania-grips-south-korea-as-retail-investors-pile-into-stablecoin-play\"><span style=\"text-decoration:underline\">Circle Mania Grips South Korea as Retail Investors Pile Into Stablecoin Play<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street heavyweight JPMorgan (JPM) initiated coverage of stablecoin issuer Circle (CRCL) with an underweight rating and an underwhelming $80 price target. The shares were trading 4.5% higher at around $189 at publication time. Circle is well positioned, the bank said, and its USDC stablecoin has an &#8220;early-mover advantage,&#8221; with growing use cases in payments. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34411","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34411"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34411\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}