Bernstein Sees $140 Target for CRCL Stock Amid Clarity Act Uncertainty

Circle Internet's (CRCL) stock rose on Monday after two investment firms, Bernstein and Susquehanna, raised their price targets on the stablecoin issuer.

Bernstein analysts led by Gautam Chhugani kept an 'Outperform' rating and a $140 target on CRCL, implying around 59% upside from Friday's close of $87.98.

Susquehanna raised its target to $92 from $69 while keeping a 'Neutral' rating, leaving about 5% upside from Friday's close.

Bernstein said Circle's growth cycle was independent of the Clarity Act passing in the September session, and that USDC supply grew by about $1.7 billion last week after six months of decline.