Goldman Sachs Initiates Coverage of Circle Internet Group with Neutral Rating and $83 Price Target
Goldman Sachs initiates coverage of stablecoin issuer Circle Internet Group (CRCL) with a Neutral rating and an $83 12-month price target, based on 60.0x Q5-Q8 adjusted earnings, implying 54% downside. This coverage raises valuation concerns despite acknowledging strong growth potential for CRCL.