Bernstein sees 203% upside for Circle despite new stablecoin rival OUSD

Investment bank Bernstein reaffirmed its Outperform rating on Circle with a $190 price target, even after the launch of stablecoin OUSD sent CRCL stock down over 17%. Analysts estimate the stock has 203% upside from current levels. OUSD represents a new rival to Circle's flagship stablecoin, USDC.