Citi analysts have given Circle a buy rating for the first time, with a target price of $243.

Gate News bot message, CoinDesk reported that Citigroup released a research report on July 1, giving Circle (CRCL) stock a "Buy/High Risk" rating for the first time, setting a target price of $243.

Circle stock was issued at an IPO price of $31 and reached a high point of $299 before falling back to $181. Citigroup analysts have a target price that suggests a 34% upside from the current price.

The report emphasizes that Circle possesses scarcity value, "winner takes all" characteristics, and operational leverage potential. Analysts point out that neutrality is Circle's competitive advantage, while its high operating leverage and low capital intensity make it capable of achieving excess returns.

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