Home / Business and Economy / JPMorgan Bullish on Circle as Stablecoin Adoption Grows
JPMorgan Bullish on Circle as Stablecoin Adoption Grows
13 Nov
Summary
- JPMorgan double upgrades Circle to overweight, lifts price target
- Circle stock has soared 178% since IPO but plunged 67% from highs
- Analyst sees 16% upside as stablecoins gain mainstream traction
In a significant move, JPMorgan has grown more optimistic about Circle, the leading stablecoin issuer, and the broader stablecoin market. The bank has double upgraded Circle's stock to overweight from underweight, and lifted its price target to $100 from $94, implying a potential upside of 16% as of November 13, 2025.
Circle's stock has been on a rollercoaster ride since its initial public offering in June 2025, soaring 178% from its IPO price of $31. However, the stock has also plunged 67% from its June highs, opening up a potential buying opportunity, according to the JPMorgan analyst.
The analyst cites Circle's "solid" third-quarter financial results, where the company beat earnings and revenue expectations, as a key driver behind the upgrade. While Circle's operating expenses guidance for the year came in higher than expected, the analyst believes the company's fundamentals are improving, enabling it to continue boosting growth and investing in its network.
Looking ahead, the analyst sees stablecoins like Circle's USDC becoming increasingly integrated into mainstream financial services, positioning the company as a leading partner in this rapidly evolving space.
