Bernstein Upgrades Circle's Outlook, Sees 60% Upside as Stablecoins and AI-Driven Finance Gain Momentum

Bernstein analysts have raised their price target for Circle Internet Financial (CRCL) to $111, citing growing adoption of stablecoins and the emergence of AI-driven agentic finance as key drivers of long-term growth. The firm believes stablecoins are transitioning from speculative assets to core infrastructure for global payments and decentralized finance.

Circle's Q4 2025 results underscored this trend, with revenue surging 77% year-over-year to $770 million and earnings per share exceeding forecasts. The company's USDC stablecoin grew to $75.3 billion in circulation, reinforcing its market position.

Analysts across the industry have issued varied price targets for CRCL, ranging from $75 to $160 as of early 2026, with most maintaining 'Buy' or 'Hold' ratings.

Why Did This Happen?

Stablecoins are diverging from the broader crypto market cycle and gaining traction in institutional finance and cross-border payments. Bernstein highlighted that USDC and USDT accounted for the majority of stablecoin transaction volume, which reached $55 trillion in 2025.

Visa and other major card networks are expanding stablecoin-linked services to 50 countries, while Circle continues to build out its global payments infrastructure. This shift aligns with regulatory progress in the U.S. and Europe, where laws like the GENIUS Act and MiCA are facilitating institutional-grade adoption.

What Are Analysts Watching Next?

Bernstein outlined a new growth theme: agentic finance, where autonomous AI agents use stablecoins for machine-to-machine payments. To support this, Circle is developing a high-throughput blockchain called Arc, which could enable fast, low-cost transactions.

TRON and other blockchain platforms are also positioning themselves for agentic AI payments, with TRON joining the Agentic AI Foundation and leveraging its Tether ecosystem for small-value transactions. The foundation focuses on creating open standards for AI agent interactions, which could benefit networks with fast processing and low fees.

What Do Technical Indicators Say?

CRCL stock is currently in a bullish trend, with RSI and other indicators showing overbought conditions. The stock has surged 9.74% as of March 10, 2026, with moving averages and other metrics reinforcing a strong upward trajectory.

Bernstein's updated price target of $111 represents a potential 60% upside from current levels. Analysts from other firms, including Canaccord and Needham, have also issued optimistic price targets, ranging up to $160 per share.