JPMorgan Upgrades Circle to ’Overweight’ with $100 Price Target on USDC Growth
JPMorgan analysts have elevated Circle's stock rating to 'Overweight,' pushing the price target to $100 from $94, citing robust third-quarter performance and expanding stablecoin adoption. The upgrade reflects confidence in Circle's USDC reserves, which surged to $9.1 billion in Q3—a 727% increase since year-end 2022.
Deutsche Börse and Finastra's engagement with Circle's Arc network signals institutional interest in stablecoin infrastructure. The testnet platform, optimized for USDC, could catalyze broader adoption as Visa explores integration. 'Arc's design positions USDC as the backbone for enterprise blockchain settlements,' noted JPMorgan.