TechFlow News, May 12: According to The Block, research and brokerage firm Bernstein has maintained its “Outperform” rating on Circle Internet Group (CRCL), with a target price of $190—approximately 44% upside from Monday’s closing price of $131.76.
Analysts led by Gautam Chhugani noted that Circle’s $222 million ARC token pre-sale—completed at a fully diluted valuation of $3 billion—provides near-term cushioning against pressure stemming from an 11% sequential decline in reserve income due to weakening interest rates.
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