Mizuho maintains Circle at "Underperform," lowers price target to $43.

BlockBeats news, October 26: Mizuho Securities maintains its "Underperform" rating on Circle (CRCL) with a target price of $43, approximately 48.1% below the current stock price of $82.87.

Mizuho warns that AI assistants may steer users toward alternative products with higher yields and insurance protection, weakening USDC's competitiveness. This could put $4 billion to $9 billion of pressure on USDC's market cap and cause Circle's reserve income to decline by 10% to 20%. The firm also cut its 2027 EBITDA forecast for Circle by approximately 5%.