Bernstein SocGen Asserts Circle Internet Group's (CRCL) 'Outperform' Rating on Crypto Growth Prospects

Circle Internet Group (NYSE:CRCL) in Cathie Wood's Stock Portfolio is one of the top 10 stocks to buy now. On August 13, Bernstein SocGen Group reiterated an ‘Outperform’ rating on the stock and a $230 price target. The positive stance follows the stock’s impressive momentum, characterized by a 70.1% year-to-date gain.

Bernstein SocGen Group remains optimistic about Circle Internet Group’s prospects following its first quarterly earnings report after going public in June. According to the research firm, the financial results were inconsequential as the IPO had generated significant investor interest.

Similarly, Bernstein SocGen Group expects third-quarter results to have a significant impact on the stock’s sentiment, given that significant Ethereum price movements and USDC stablecoin growth during Q3 will be key metrics to watch. The firm has also echoed Circle Internet Group’s push to win big in the digital asset space, as it addresses near-term challenges.

Circle Internet Group (NYSE:CRCL) is a financial technology firm that focuses on enabling businesses to utilize digital currencies and public blockchain’s for payments, commerce, and financial applications. It provides infrastructure and services for businesses to integrate digital currencies into their operations.

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Disclosure: None. This article is originally published at Insider Monkey.