Circle (CRCL) Jumps on Wells Fargo Upgrade, Boosted by Regulatory Progress

Wells Fargo upgraded Circle Internet Group (CRCL) to an overweight rating on Wednesday. The bank established a new price target of $142 for the shares.

Analysts cite recent progress on the U.S. CLARITY Act as a significant de-risking event for the company. This legislative advancement specifically supports Circle's core USDC stablecoin business and its capacity to offer rewards.