Figure (FIGR) Gets Mixed Wall Street Debut as KBW, BofA Diverge on Outlook

Figure (FIGR), a blockchain lender, is experiencing mixed reviews from Wall Street after its public debut. Keefe, Bruyette & Woods (KBW) rated the stock as 'Outperform' with a price target of $48.50, highlighting its significant presence in tokenized credit markets, controlling 73% of the private credit segment. However, Bank of America took a more cautious stance, issuing a 'Neutral' rating with a price target of $41. BofA raised concerns about execution risks and the company's reliance on home equity lines of credit (HELOCs), which still constitute the bulk of its profits and are not entirely blockchain-based. Despite the contrasting evaluations, both banks emphasize the potential growth of Figure's platform, which aims to expand its offerings beyond HELOCs and into personal loans and mortgages. The divergence in outlook reflects broader uncertainties in scaling blockchain infrastructure within the financial sector.

Source 🔗