Bernstein: ‘Circle is the dollar of the internet’ – price target 230 dollars

Beurs broker and research agency Bernstein issued a purchase advice on Monday for Circle, the company behind Stablecoin USDC. In an extensive report, the Circle company mentions the “Internet-Dollar Network for the coming decade” and sets the price target at 230 dollars per share.

Great faith in Circle and Stablecoins

Circle went to the fair under the Ticker CRCL on 5 June. The IPO was one of the most popular of the year: the shares were over -signed and opened 167 percent higher than the introduction price of 31 dollars. The race peaked at $ 292, but last Friday closed at $ 180.43, a decrease of more than 15 percent compared to the day before.

According to Bernstein, the Stablecoinmarkt is at the start of an explosive growth. Analysts foreseen that the total range of stablecoins can grow from $ 244 billion now, to 4 trillion dollars in the next ten years. Circle, with its regulated USDC, could get a market share of 30 percent in it.

“Circle is building a leading digital dollar system, with a highly regulatory advantage, a lead in liquidity and strategic distribution partners,” said analyst Gautam Chhugani. According to him, CRCL is a “must-have” for investors who want to respond to the new financial infrastructure of the internet.

According to Bernstein, the recently adopted Genius law in the US gives Bernstein a regulatory lead over competitors such as Tether, who has its head office outside the US. Circle’s liquidity of more than 61 billion dollars and integration in platforms outside the crypto sector make it difficult to replicate, according to Chhugani.

Financial expectations

Bernstein appreciates the Circle share on the basis of a ten-year cash flow analysis and expects an annual revenue growth of 47 percent and an EBITDA growth from 71 percent to 2027. Although CRCL is currently being traded against 56 times the expected profit for 2026, the analysts believe that justified in view of the growth ear views.

Bernstein also published a price target increase for Coinbase, a strategic partner from Circle, to $ 510 per share last week.