According to Foresight News , The Block reports that Mizuho Securities has downgraded Circle Internet Group (CRCL) from "Neutral" to "Underperform" and lowered its price target from $84 to $70.
Analysts point out that although Circle's third-quarter results were strong, its revenue growth relied heavily on interest income, and its profit prospects may be pressured in the future due to a lower interest rate environment and increased competition from stablecoins. Furthermore, Mizuho Securities stated that the approaching expiration of corporate lock-up periods could bring selling pressure; the entry of new stablecoin competitors could weaken USDC's market share; and if interest rates decline, Circle's yield model will face challenges.
