Crypto
Morgan Stanley Downgrades Circle Stock Amid USDC Growth Concerns
Morgan Stanley downgraded Circle stock due to slower USDC growth concerns.
The bank cut its CRCL price target from $106 to $38, citing a weaker long-term earnings outlook.
USDC supply forecasts were reduced by approximately 33% for 2027 and 44% for 2028, leading Morgan Stanley to expect Circle's GAAP earnings per share to be below Wall Street consensus in both years.
Despite this, some market experts see a possible breakout point around $62 for CRCL stock.