Mizuho analysts have raised their target price for Circle (CRCL) from $90 to $100. Mizuho noted that the recent surge in crude oil prices and the weakening expectations of Federal Reserve rate cuts are positive for the stablecoin issuer. Since Circle's revenue mainly comes from interest on USDC reserves, a "higher-for-longer" interest rate environment will support its profit model. Despite the strengthening macro backdrop, analysts warn that as regulations become clearer, increased competition in the stablecoin industry could compress profit margins in the long term. Circle's stock price rose nearly 8% on Tuesday, reaching a nearly four-month high. (TheBlock)