Bernstein Stands Firm on $140 Circle Target Despite CLARITY Act Uncertainty

Bernstein analysts have maintained their Outperform rating and $140 price target for Circle Internet Group, implying about 59% upside after the company closed at $87.98 on Friday.

The brokerage expects USDC adoption to support Circle even without passage of the CLARITY Act in September.

USDC supply increased by approximately $1.7 billion over the past week, and adjusted stablecoin transaction volume is tracking at a $17 trillion annualized rate through July.

Bernstein views USDC's growth cycle as independent of the CLARITY Act's outcome, expecting it to continue regardless of whether the bill passes or fails in September.