Citi Names Circle Top Crypto Equity Pick With $243 Target

Crypto1 day ago

Pete Christiansen has shifted his investment outlook on digital asset stocks as companies prepare to release third-quarter financial results. The analyst at Citi designated Circle as his highest conviction pick with a price target of $243, and issued rating upgrades for Galaxy and Gemini, though he downgraded Securitize. The bank is focusing on an "infrastructure trade" as trading shifts toward tokenized assets on the NYSE, Nasdaq, and DTCC.

Separate research from Citi identifies Aave as a "Decentralized Prime Brokerage" and a collateral mobility protocol for tokenized capital markets. The bank describes collateral mobility as one of the most important use cases for tokenization, noting that Aave could perform functions that move tens of trillions of dollars from traditional finance into the on-chain economy.

Mapped to your portfolio

Possible scenarios

45%Bullish Re-rating Extends+0.0%
25%Valuation Pushback Emerges-0.0%
20%USDC Thesis Strengthens+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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Citi Names Circle Top Crypto Equity Pick With $243 Target

In this story

Circle (company)Aave Galaxy Digital Gemini (company)Securitize

$CRCLCircle Internet Group, Inc.

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

45%Bullish Re-rating Extends+0.0%
25%Valuation Pushback Emerges-0.0%
20%USDC Thesis Strengthens+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.