Analysts at Citi have reiterated a bullish stance on Circle (CRCL), naming it a top pick and raising their price target to $243, representing 140% upside from current levels. Despite recent stock declines linked to new regulatory proposals, Citi states the company is benefiting from idiosyncratic factors. The firm pointed to strong on-chain activity for USDC as evidence of real-world utility beyond trading.
Citi analyst Peter Christiansen has reaffirmed a Buy rating on Circle stock with a $243 target. This signals a potential 140% upside from the share price of approximately $98 reported at press time on Thursday.
The stock fell 18% on Tuesday and was down 5% in Thursday trading as the proposed Clarity Act impacted crypto stocks. Citi, however, characterizes the present market slump as a solid buying opportunity for Circle.
Investor concerns have centered on a proposed ban on passive yield for stablecoins within the new rules. Christiansen directly addressed this point in his latest report on the company. He wrote that “We also do not believe this development thwarts real-world use cases for stablecoins, including cross-border payments or agentic commerce.”
While other firms like Gemini have seen analyst targets cut, Circle is being singled out for positive factors. The company is experiencing a significant jump in on-chain activity for its USDC stablecoin. USDC recently achieved a record in adjusted transaction volume, indicating broader business use.
