Mizuho Securities lowers Circle stock price target to $70
PANews, November 15—According to The Block, Mizuho Securities has maintained its “underperform” rating on Circle stock and lowered its target price to $70. CRCL stock has fallen nearly 40% over the past month. Mizuho analysts stated in a research report: “We believe CRCL’s valuation fails to adequately reflect the key risks to its medium-term profitability.” Potential risks include “the upcoming interest rate cuts, relatively stagnant circulation volume, structurally high (and rising) distribution costs, and intensifying competition among stablecoins.”
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