Citibank gives Circle a 'buy' rating with a target price of $243

According to a report by Golden Finance, Citigroup has given stablecoin issuer Circle (CRCL) a "buy/high-risk" rating with a target price of $243. Despite the significant increase in Circle's stock price since its initial public offering (IPO) (from $31 to last week's historic high of $299), Citigroup analysts believe its valuation is not too high.