Mizuho says Middle East tensions drive Circle stock up 20%

Mizuho stated that due to heightened tensions in the Middle East, rising oil prices, and diminished expectations for Federal Reserve rate cuts, Circle's stock price rose by about 20% this week. Previously, U.S. airstrikes against Iran had driven oil prices to surge, potentially exacerbating inflation and increasing Circle's reserve income. Mizuho raised Circle's target stock price from $90 to $100, while maintaining a neutral rating on the stock.