Mizuho Upgrades Circle Rating to Neutral as Polymarket Surge Expected to Drive Growth

Mizuho Upgrades Circle's Rating

On January 29, Mizuho Securities announced an upgrade to Circle's stock rating from underperform to neutral, with a target price set at $77. This decision reflects a renewed confidence in Circle's potential for future growth.

Analysts Dan Dolev and Alexander Jenkins noted in their report that the rapid development of Polymarket, a prediction market platform, could be a major catalyst for Circle. All transactions on Polymarket are settled in USDC, which is expected to significantly boost USDC adoption.

Polymarket's Growth Outlook

The analysts forecast that prediction markets will continue to expand through 2026, driving an increase in the USDC market cap. This growth is expected to translate into new revenue opportunities for Circle.

• Circle's rating upgraded to neutral
• Target price raised to $77
• Polymarket's growth seen as key driver