Circle Receives Buy Rating from Seaport Securities with $235 Price Target
Circle (CRCL) received a buy rating and a $235 price target from Seaport Securities. Key points include:
- The stablecoin market cap could grow to $2 trillion from $260 billion.
- Circle's projected annual revenue growth is 25%-30% with gross margins around 40%.
- Expected to outperform most fintechs in the next two years, justifying a premium valuation.
- CRCL shares rose 19% to $237, surpassing the $235 target and increasing nearly eight-fold since its IPO at $31.