Mizuho raises target price for Circle to $100

Global investment bank Mizuho Securities has raised its price target for Circle from $90 to $100 while maintaining a neutral investment rating, CoinDesk reported. Mizuho attributed the 20% rise in Circle's stock price this week to surging oil prices amid heightened tensions in the Middle East. The firm noted that this has lowered expectations for a U.S. Fed rate cut, which is consequently expected to increase Circle's interest income from its reserves.