Catenaa, Wednesday, November 19, 2025- JPMorgan raised its rating on Circle shares on Thursday after the company posted strong third quarter earnings and advanced a series of new partnerships tied to its USDC stablecoin.
The bank issued a price target of 100 dollars by December 2026.
Circle shares were trading near 85 dollars in morning action after climbing above 250 dollars following the firm’s June listing.
Analysts said revenue and core metrics outpaced projections during the quarter.
They cited improved demand for USDC and a broader set of corporate clients turning to Circle for payment and settlement work.
The research note pointed to new ties with Deutsche Börse, Finastra, Visa and Brazilian lender Itau as drivers that could lift the use of USDC in the year ahead.
JPMorgan said USDC has been growing faster than rival tokens in onchain activity and market size, outpacing USDT in recent weeks.
Analysts expect Circle to gain market share in 2026 as more firms add stablecoin payments to their operations. They also project stronger margins as adoption increases.
Circle still faces a crowded field as new entrants move into the stablecoin market. Tether remains the largest issuer, while Hyperliquid and several fintech firms are preparing their own dollar tokens. Analysts said more issuers will likely enter the market in the next year.
Growth across the top stablecoins has held steady even as total supply has flattened. The passage of the GENIUS Act earlier this year set out a federal rulebook for stablecoins, clearing a path for wider use of dollar tokens in the United States.
