Bernstein: Growing demand for stablecoins enables Circle to withstand the impact of Fed rate cuts
According to ChainCatcher, Wall Street broker Bernstein stated that if US interest rates drop significantly, Circle (CRCL)'s revenue could take a hit. However, strong demand for stablecoins and operating leverage may help mitigate the impact. Currently, Bernstein rates Circle stock as Outperform with a target price of $230. The stock fell 2.3% in early trading, dropping to around $134.4.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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