Compass Point Downgrades Circle to Neutral, Cuts Price Target to $55 on June 30

According to Compass Point, the firm downgraded Circle Internet Group (NYSE: CRCL) to Neutral from Sell on June 30, cutting its price target to $55 from $97. The move followed the announcement of Open USD (OUSD), a rival stablecoin backed by over 140 partners. In contrast, Clear Street maintained a Buy rating with a $157 price target on July 1, arguing the selloff was overdone. CRCL closed at $68.64 on July 6, up 6.22% for the day.
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