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Wall Street Divided on Circle Stock as JPMorgan, Goldman Sachs Flag Valuation Concerns
Wall Street Divided on Circle Stock as JPMorgan, Goldman Sachs Flag Valuation Concerns
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Circle's recent IPO has ignited a sharp divergence in Wall Street sentiment. Barclays, Bernstein, Canaccord Genuity, and Needham issued bullish price targets exceeding $200, citing the company's stablecoin dominance and regulatory moat. "CRCL operates a defensible digital dollar network with first-mover liquidity and institutional partnerships," Bernstein analysts noted.
JPMorgan and Goldman Sachs struck a cautionary tone, with JPMorgan slashing its target to $80—a 59% discount to current levels. While acknowledging Circle's early lead in the $62 billion USDC ecosystem, both firms warned of stretched valuations. The split underscores growing institutional debate about crypto-native business models in traditional finance.
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