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00:02Morgan Stanley and TD Cowan took sharply different views on Circle on Monday, underscoring Wall
00:07Street's divide over the stablecoin issuer's outlook.
00:09Morgan Stanley analyst James Fawcett cut his price target to $38 from $106.
00:14Fawcett cited weaker USDC supply expectations, pressure on reserve income, and a shift toward
00:20lower-margin transaction revenue.
00:21He also said stablecoin activity remains concentrated in crypto trading rather than payments and
00:26questioned the near-term impact of agentic payments.
00:28Meanwhile, TD Cowan analyst Brian Bergen initiated coverage with a buy rating and an $82 price
00:34target.
00:35He argued that the market underestimates Circle's expansion into payments, treasury, tokenized
00:39assets, interoperability, and developer services.
00:42Shares were trading at $60.35 at Monday's close, testing key support at $59.47, according to
00:49data from Benzinga Pro.
00:50For all things money, visit Benzinga.com
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