Morgan Stanley Downgrades Circle Internet to Underweight, Cuts Price Target to $38
2026-08-03 14:03
Odaily News: Morgan Stanley downgraded stablecoin issuer Circle Internet to Underweight and cut its price target from $106 to $38.
The bank also lowered its supply forecast for Circle Internet's USDC stablecoin through 2028, citing weaker reserve income and an increasing share of low-margin revenue. Analysts noted that intensifying competition from tokenized cash products and new stablecoin models could pressure Circle Internet's profitability.
The bank also lowered its supply forecast for Circle Internet's USDC stablecoin through 2028, citing weaker reserve income and an increasing share of low-margin revenue. Analysts noted that intensifying competition from tokenized cash products and new stablecoin models could pressure Circle Internet's profitability.
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