BUZZ-Seaport starts coverage of Circle with 'buy' rating

Reuters2025-06-20
BUZZ-Seaport starts coverage of Circle with 'buy' rating

** Seaport initiates coverage of stablecoin issuer Circle Internet CRCL.N with "buy" rating

** Brokerage says CRCL's flagship stablecoin $(USDC)$ product is to grow rapidly due to the improving regulatory climate in the U.S. for crypto

** On Tuesday, the U.S. Senate passed a bill to create a regulatory framework for stablecoins, in a watershed moment for the digital asset industry

** Seaport expects a future surge in stablecoin adoption and usage by consumers and businesses

** Brokerage sets PT at $235, a ~17.7% upside on stock's last close

** As of last close, stock up ~543.8% from the $31 offer price in its IPO, earlier this month

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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