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Morgan Stanley Downgrades Circle, Cuts Price Target to $38 on Slowing USDC Growth

BitcoinWorld Morgan Stanley Downgrades Circle, Cuts Price Target to $38 on Slowing USDC Growth Morgan Stanley has downgraded Circle Internet Group (CRCL) to underweight and slashed its price target to $38 from $106, a move that sent the company’s shares down about 6% in early trading.

The stock was recently trading at $60.88, down 2.76% on the day, reflecting investor reaction to the bearish outlook.

Why Morgan Stanley turned cautious on Circle The downgrade is rooted in concerns over slowing growth of Circle’s flagship stablecoin, USDC, and intensifying competition from tokenized money market funds.

Morgan Stanley analysts, as reported by Yahoo Finance, argue that these factors could pressure Circle’s fee revenue and market share in the rapidly evolving digital asset landscape.

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