Mizuho cuts price target on stablecoin issuer Circle; maintains 'underperform'

Circle Internet

14/11/2025 12:56

** Mizuho cuts stablecoin issuer Circle Internet Group's CRCL.N PT to $70 from $84, a 17.6% downside to stock's last close

** Brokerage sees the company facing headwinds from slowing rates, the commodification of stablecoins, and rising distribution costs

** Mizuho notes that companies that did well before their lockup expiration like CRCL often underperform the S&P 500 in the following 6 months

** "We believe CRCL's FY27 consensus revenue expectations are overly optimistic, and we remain materially below," says Mizuho

** As of last close, CRCL stock has risen 19.33% from opening price on debut in June

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))