Circle (CRCL) Stock: Bernstein Sees 59% Upside Even if Crypto Bill Fails
TLDR
- Bernstein maintained its Outperform rating and $140 price target on Circle, implying ~59% upside from its $87.98 close
- USDC supply grew by $1.7 billion last week after nearly six months of flat growth
- Bernstein says Circle’s growth cycle does not depend on the CLARITY Act passing in September
- Adjusted stablecoin transaction volume is running at a $17 trillion annualized rate through July 2026
- More than 900 paid services use Circle’s Agent Stack, with 99.3% of x402 agent payment volume settling in USDC
Bernstein has kept its Outperform rating and $140 price target on Circle Internet Group (CRCL), even as uncertainty remains around the CLARITY Act. The target implies about 59% upside from Circle’s recent close of $87.98. At the time of writing, CRCL was trading at $89.20, up around 1.4%.
The note, published Aug. 24 and led by analyst Gautam Chhugani, makes the case that Circle’s growth does not hinge on Congress passing the U.S. crypto market structure bill in September.
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