Circle Valuation Is ‘Outside Our Comfort Zone,’ Initiate at Underweight: JPMorgan
Wall Street heavyweight JPMorgan (JPM) initiated coverage of stablecoin issuer Circle (CRCL) with an underweight rating and an underwhelming $80 price target. The shares were trading 4.5% higher at around $189 at publication time. Circle is well positioned, the bank said, and its USDC stablecoin has an “early-mover advantage,” with growing use cases in payments. … Read more