Wall Street brokerage Bernstein has lowered its price target on the stock of stablecoin issuer Circle Internet Group (NYSE: $CRCL).

In a note to clients, Bernstein lowered its price target on CRCL stock to $140 U.S. from $190 U.S. while keeping a Buy-equivalent outperform rating on the shares. 

Crypto analyst Gautam Chhugani writes that the Open USD consortium that pressured the stock is a lesser threat than the market realizes.

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And Bernstein’s lowered price target still implies plenty of upside for the stock.

Circle Internet Group’s stock closed at $64.32 U.S. on July 28, meaning the new $140 U.S. price target is 118% higher than the current share…