Berenberg rates Circle as 'Outperform,' with a price target of $190

BlockBeats News, February 26th, Bernstein stated that Circle is now a financial technology infrastructure provider, rather than a "proxy investment target" for crypto assets.

Circle's released fourth-quarter financial report showed that its 2025 revenue soared by 77% to reach $7.7 billion.

For Circle CEO Jeremy Allaire, this is just the beginning of AI and blockchain technology impacting the world economy. He stated: "We are at the very beginning of a profound, fundamental transformation in how the global economic system operates. Our global economic system will not only become more Internet-native but also more automated."

Bernstein believes that Circle will play a key role in this transformation, reiterating its "outperform" rating on Circle and a $190 target price in a new report, implying a 129% upside, and pointing out that Circle is evolving into core internet infrastructure. Analyst Gautum Chhugani and three of his colleagues described Circle's fourth-quarter performance as "clearly differentiated from the crypto market."