Bernstein backs Circle with $190 target as ARC presale reaches $222 million
The post Bernstein backs Circle with $190 target as ARC presale reaches $222 million appeared on BitcoinEthereumNews.com. Bernstein has maintained its Outperform rating on Circle Internet Group with a $190 price target after the company’s $222 million ARC token presale and continued USDC growth helped offset pressure from falling reserve income. Summary Bernstein kept its Outperform rating on Circle and set a $190 price target after the company raised $222 million through its ARC token presale. USDC supply reached $77 billion in Q1, while Circle Payments Network annualized transaction volume approached $10 billion. Bernstein said Arc’s testnet processed more than 244 million transactions as Circle expanded its AI-focused payment infrastructure around USDC. According to a Tuesday client note from Bernstein analysts led by Gautam Chhugani, the brokerage sees Circle’s expanding blockchain and payments business as supporting earnings visibility even as lower interest rates reduced reserve-