Circle Internet price target raised to $155 from $112 at JPMorgan

JPMorgan raised the firm’s price target on Circle Internet (CRCL) to $155 from $112 and keeps an Overweight rating on the shares. The company’s sales miss in Q1 is overshadowed by its long-term vision, the analyst tells investors in a research note. The firm says Circle’s Q1 results show the more resilient nature of stablecoins versus the broader digital asset markets as the use cases continue to develop. It thinks the progress towards Circle’s longer-term vision via the Arc announcement and strong other revenue growth will support the stock.