Circle Internet Group Inc (NYSE:CRCL) unveiled a new blockchain, Arc, designed for stablecoin finance. The firm also introduced instant cross-chain liquidity via Circle Gateway, as it reported second-quarter results. Shares of the company tanked in early trading Tuesday despite the product announcements.
Here are some key analyst takeaways.
- Goldman Sachs analyst James Yaro reaffirmed a Neutral rating, while reducing the price target from $88 to $86.
- JPMorgan analyst Kenneth Worthington maintained an Underweight rating, while raising the price target from $80 to $89.
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