H.C. Wainwright initiated coverage of Circle Internet (CRCL) with a Neutral rating and $85 price target The firm says the company’s current valuation fully reflects its near-term opportunities. Circle is one of the most regulatorily compliant stablecoin issuers in the crypto ecosystem, which will enable it to continue to win market share over as global adoption of U.S. dollar backed stablecoins accelerates amid regulatory tailwinds, the analyst tells investors in a research note. However, H.C. Wainwright views the stock’s risk/reward profile as balanced at current levels based on Circle’s near-term growth prospects and the valuations ascribed to other digital asset equities.
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