Bernstein Stands Firm on Circle Price Target Despite Regulatory Uncertainty

Bernstein continues to back Circle Internet Group (CRCL) with an Outperform rating and $140 price objective, despite ongoing questions surrounding the CLARITY Act's legislative fate. This valuation suggests approximately 59% potential appreciation from CRCL's latest closing price of $87.98.

The company delivered second-quarter revenue of $701 million, a 7% increase compared to the prior year period. However, Circle reported net income of $48 million alongside earnings per share of $0.18, falling short of Wall Street projections.

USDC's total supply expanded by approximately $1.7 billion within just seven days following an extended period of minimal change. Bernstein interprets this development as evidence that user adoption has regained momentum.