Bernstein Keeps Outperform Rating on Circle as USDC Supply Surges

Circle Internet Group (CRCL) stock received a boost from analysts at Bernstein, who maintained their Outperform rating and $140 price target on the company. This implies approximately 59% upside from CRCL's recent close of $87.98.

The growth cycle for Circle does not depend on the passage of the CLARITY Act in September, according to Bernstein. The analysts point out that USDC supply saw a significant increase of $1.7 billion last week after nearly six months of flat growth.

Adjusted stablecoin transaction volume is running at an annualized rate of around $17 trillion through July 2026, up from $11 trillion in 2025. This represents a 60% increase from the previous year.