Bernstein: Growing demand for stablecoins enables Circle to withstand the impact of Fed rate cuts
According to ChainCatcher, Wall Street broker Bernstein stated that if US interest rates drop significantly, Circle (CRCL)'s revenue could take a hit. However, strong demand for stablecoins and operating leverage may help mitigate the impact. Currently, Bernstein rates Circle stock as Outperform with a target price of $230. The stock fell 2.3% in early trading, dropping to around $134.4.
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