BUZZ-Clear Street lifts Circle PT to $152 after Mastercard deal for BVNK

Reuters03-18 18:22
BUZZ-Clear Street lifts <a href="https://laohu8.com/S/CRCL">Circle</a> PT to $152 after Mastercard deal for BVNK 

** Clear Street raises stablecoin giant Circle Internet Group CRCL.N PT to $152 from $136, implying an 11.8% upside to stock's last close

** Brokerage says Mastercard's MA.N acquisition of stablecoin payments infrastructure firm BVNK is a validation of blockchain as a faster, cheaper, global, and 24x7 next-generation technology

** Adds tone from MA executives has shifted from skepticism around stablecoin use cases to optimism regarding blockchain scalability and expansion

** "MA's decision to acquire rather than build suggests that becoming a critical blockchain infrastructure provider is challenging. We are incrementally more confident in our upgrade thesis on CRCL as a trusted, regulatory-compliant infrastructure layer" - Clear Street's Owen Lau

** 13 of 27 brokerages rate the stock "buy" or higher, 13 "hold" and 1 "strong sell"; median PT $114.20 - data compiled by LSEG

** As of last close, CRCL stock up 66.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment