JPMorgan Rates Circle Underweight; $80 Target by Year‑End 2026

JPMorgan Chase has initiated coverage of Circle (CRCL) with an underweight rating and a price target of $80 by December 2026, implying a sharp 55% downside from the current share price of $180. In its “North America Equity Research” report, led by analyst Kenneth Worthington, the investment bank bases its valuation on a 45x multiple of projecte...