Mizuho Securities: Circle faces medium-term risks from slowing USDC growth, rising distribution costs, and possible interest rate cuts

Mizuho Securities' equity researchers say Circle stock faces medium-term risks, including slower-than-expected USDC growth, rising distribution costs, and potential Federal Reserve rate cuts. The analysts predict a base price of $84 for Circle's stock, while a bearish scenario sees the stock ultimately trading at $40 by 2027, below the company's closing price of $153.16 on Wednesday, one day after the company released its quarterly earnings report. Notably, Bernstein analysts maintained their $230 price target on the stock.