Stablecoin issuer Circle rises after JPM upgrades to 'overweight'
** Stablecoin issuer Circle Internet Group's shares rise 1.8% to $87.88 premarket** J.P. Morgan upgrades CRCL to "overweight" from "underweight" on better fundamentals; raises PT to $100 from $94, a 15.9% upside to stock's last close** CRCL reported solid Q3 results that indicated stablecoins are continuing to make way into mainstream financial services, brokerage says** Stock closed down 12.2% on Wednesday after Q3 results** "A key unknown for us remains whether stablecoins will be a winner-take-most-market — an answer here will be important in gauging future gross margins for Circle" - JPM** Brokerage sees enough upside in CRCL shares to outperform its broader coverage universe despite stock being pressured in recent weeks as lockup period beckons** As of last close, CRCL stock has more than doubled since debut in June