Bernstein maintains $190 price target for USDC issuer Circle

Wall Street asset manager Bernstein is maintaining its $190 price target for Circle, the issuer of the world's second-largest stablecoin, USDC. This represents a potential upside of approximately 70% from the stock's closing price on March 9. According to The Block, Bernstein analysts said the adoption of stablecoins by people, businesses, and potentially AI agents is accelerating. The firm is maintaining its "outperform" rating for Circle's stock and its $190 price target. Bernstein added that the proliferation of stablecoins is steadily advancing, irrespective of investment sentiment within the crypto market. As their utility as a payment method grows, stablecoins are expanding their role as a "global digital dollar banking infrastructure," the analysts noted.