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Bernstein cuts Circle price target to $140, says Open USD risk fades

The firm said USDC supply has held near an all time high, supporting its view that any threat from an Open USD initiative will fade.

Reported · Written up by our desk · Altcoins

Bernstein lowered its price target for Circle to $140 from $190 while keeping an Outperform rating, according to The Block.

The firm said the perceived risk tied to an Open USD effort is expected to fade because USDC supply remains near an all time high.

Bernstein also noted that this dynamic underpins its stance on Circle’s outlook, as reflected in the revised target.

The Block reported the change alongside the view that USDC supply strength is a key factor for the debate over Open USD.

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