Mizuho maintained its Underperform rating on Circle (CRCL) and lowered its price target to $43, about 48.1% below the current share price of $82.87. According to Odaily, Mizuho said AI assistants could direct users to higher-yield alternatives with insurance protection, weakening USDC’s competitiveness. The firm estimates that this trend could pressure USDC’s market capitalization by $4 billion to $9 billion and reduce Circle’s reserve income by 10% to 20%. Mizuho also cut its 2027 EBITDA forecast for Circle by about 5%.