JPMorgan Chase Upgrades Circle Rating from 'Underweight' to 'Overweight'

BlockBeats News, November 13th: JPMorgan Chase has upgraded Circle (CRCL) from "Underweight" to "Overweight," with a target price raised from $94 to $100, indicating a potential upside of about 16%. Analyst Kenneth Worthington pointed out that Circle's fundamentals have improved and its performance in the third quarter was strong.

Circle's stock price has risen by 178% since its $31 IPO, but is still 67% below its June high. Worthington sees this as a buying opportunity. He mentioned that stablecoins are further entering mainstream finance, with Circle's USDC leading this trend. Following the rating upgrade, Circle's stock price rose over 1%.