JPMorgan upgrades Circle rating from Underweight to Overweight

ChainCatcher news, JPMorgan has upgraded Circle (CRCL) from Underweight to Overweight, raising the target price from $94 to $100, implying an upside of about 16%. Analyst Kenneth Worthington pointed out that Circle's fundamentals have improved and its third-quarter performance was strong.

Since its IPO at $31, Circle's stock price has risen 178%, but it is still 67% below its June peak. Worthington believes this is a buying opportunity. He stated that stablecoins are further entering mainstream finance, with Circle's USDC leading this trend. After the rating upgrade, Circle's stock price rose by more than 1%.

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