JP Morgan, Circle target stock price 80 dollars presented…“Stablecoin competition is a major risk”

JP Morgan proposed a target stock price of 80 dollars per share for Circle (CRCL), the issuer of the US dollar-based stablecoin USDC. According to Cointelegraph, JP Morgan analyzed in its latest report that “competition within the stablecoin market could act as a major risk factor for Circle.”

JP Morgan pointed out that not only simple stablecoin competitors but also various cryptocurrency-based financial products such as tokenized deposits and digital money market funds could threaten Circle's market share. They specifically highlighted the risk that if these competitors secure a certain scale of market share, they could rapidly expand their influence by utilizing the existing network infrastructure that Circle has established.