Circle (CRCL), the stablecoin issuer behind USDC, got a second upgrade by Wall Street analysts in a week, and this time by its biggest bear. However, Engel's kept his price target the lowest among Wall Street analysts covering the stock, despite the upgrade. His new price target is $60, down from $75 due to premium valuation (more on that later). The stock fell 7.3% during regular trading hours on Thursday to $67.55, but rose about 1% in post-market trading. Over 75% of all USDC is currently being used in high-risk crypto trading or lending apps.