Mizuho Securities maintains "Underperform" rating on Circle stock, lowers target price to $70
Jinse Finance reported that Mizuho Securities has maintained an "underperform" rating on a certain exchange's stock, with the company's analysts lowering the base target price from $84 to $70. The exchange's stock (ticker symbol CRCL) traded at around $82 on Friday, having fallen nearly 40% over the past month. In a research report, Mizuho Securities analysts stated: "We believe the company's valuation fails to adequately reflect the major risks to its medium-term profitability." The analysts also pointed out that potential risks include "the upcoming interest rate cuts, relatively stagnant economic growth, high (and rising) transaction costs, as well as increasingly fierce competition among stablecoins."
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