Mizuho: Circle shares boosted by Middle East tensions, rising oil, fading rate cut hopes, says Mizuho

The stock has risen about 20% since the U.S. strikes on Iran over the weekend. What to know : Circle shares have risen another 20% this week after Israeli and U.S. airstrikes on Iran led to a spike in the oil price. Mizuho said rising oil prices may stoke inflation and reduce the likelihood of Federal Reserve rate cuts, a tailwind for Circle’s reserve income. The bank raised its Circle price target to $100 from $90, while reiterating its neutral rating on the stock.