Mizuho maintains Circle "Underperform" rating, cuts price target to $43, about 48% below current price

Odaily reports: Mizuho Securities maintains its "Underperform" rating on Circle (CRCL) and has lowered its price target to $43, approximately 48.1% below the current share price of $82.87.

Mizuho warns that AI assistants could steer users toward higher-yielding, insurance-protected alternative products, thereby weakening USDC's competitiveness. The firm estimates this trend could put $4 billion to $9 billion of pressure on USDC's market capitalization and cause Circle's reserve income to decline by 10% to 20%.

In addition, Mizuho has cut its 2027 EBITDA forecast for Circle by approximately 5%.