Bernstein Targets $190 for Circle Stock on Stablecoin Growth

Edgen Crypto

·Mar 11 2026, 02:37

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Key Takeaways

Investment firm Bernstein has initiated coverage on USDC issuer Circle (CRCL) with an "outperform" rating and a $190 price target. The firm's bullish outlook is driven by the increasing use of stablecoins independent of crypto market cycles and the long-term potential of AI-driven financial transactions.

Bernstein initiated coverage on Circle (CRCL) with an "outperform" rating and a $190 price target.
Stablecoin adoption is decoupling from volatile cryptocurrency market cycles, providing a more stable growth driver for Circle's USDC.
The rise of AI agent finance is cited as a key future catalyst that could significantly expand the use case for stablecoins.

Bernstein Sets $190 Price Target for Circle

Investment firm Bernstein has initiated coverage on USDC issuer Circle (CRCL) with an "outperform" rating, signaling strong confidence in the company's future. The firm established a price target of $190, projecting significant upside based on Circle's central role in the expanding digital dollar ecosystem. This bullish stance underscores the growing perception of stablecoins as a durable financial infrastructure.

Stablecoin Adoption and AI Fuel Bullish Outlook

Bernstein's analysis identifies two primary drivers for Circle's growth. First, the report notes that stablecoin adoption is increasingly decoupling from the speculative cycles of the broader cryptocurrency market. This suggests Circle's USDC is gaining traction as a fundamental payment and settlement layer, offering a more predictable and sustainable business model independent of market volatility.

Second, the firm points to the nascent field of AI agent finance as a powerful long-term catalyst. This concept envisions autonomous AI programs using stablecoins like USDC for seamless, machine-to-machine transactions. As this technology matures, it could unlock a vast new addressable market, positioning Circle at the heart of a future automated economy.