Circle Struggles to Gain Momentum — JPMorgan Downgrades to “Underweight,” Predicts Drop to $80

TradingKey – Circle (CRCL), the issuer of the USDC stablecoin, continues to show signs of weakness. On Monday, the stock edged up just 0.48% to $180.43, still down nearly 40% from its June 23 peak of $298.

Circle 1-Hour Price Chart – Source: TradingView.

Despite the sharp correction, JPMorgan analysts remain bearish, initiating coverage with an “Underweight” rating and a price target of $80 by December 2026 — implying a further 55% downside from current levels. The bank cited concerns over Circle’s elevated market capitalization, even while acknowledging the company’s strong leadership and USDC’s early-mover advantage in payments.

In contrast, Bernstein analysts are bullish, assigning an “Outperform” rating with a $230 price target, suggesting a 27% upside. They view Circle as a “must-hold” for investors, citing its regulatory edge, liquidity leadership, and strategic partnerships.