Mizuho Bank analysts raised their target price for Circle, believing that soaring oil prices and a favorable interest rate outlook are beneficial for stablecoin trading.

PANews reported on March 4th that, according to The Block, Mizuho Bank analysts raised their target price for Circle from $90 to $100, while maintaining a "neutral" rating, due to geopolitical tensions pushing up oil prices and weakening expectations of interest rate cuts. Analysts believe that changes in interest rate expectations may have a greater impact on Circle's valuation multiples than on its short-term revenue boost. Circle's main revenue comes from interest income from its USDC reserve assets. Rising oil prices have exacerbated inflation concerns, and increased market expectations of no interest rate cuts in 2026 are conducive to locking in stable interest income. Despite the favorable macroeconomic environment, analysts warn that clearer regulations for stablecoins may intensify market competition, potentially compressing industry profit margins in the long run.