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Bernstein sees Circle upside as USDC enters new growth phase

Investment bank Bernstein said Circle's stablecoin USDC has entered a new growth cycle and set a $140 price target for the company. It kept an outperform rating and said the shares have about 60 percent upside from current levels. Bernstein cited a rise in USDC supply, calling it a signal of 'digital dollar reflation.' It also pointed to factors including crypto market resilience, clearer U.S. regulation, tokenised capital markets and wider payment adoption.