Rothschild & Co Redburn analyst Nicholas Watts initiated coverage of Circle Internet (CRCL) with a Neutral rating and $136 price target Circle is the second-largest stablecoin issuer globally, the analyst tells investors in a research note. The firm says Circle’s ongoing need to invest in distribution, its expectations of heightened competition in the stablecoin market as real-world use cases develop, and the stock’s current “high valuation” warrant a Neutral rating.
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