Figure Is a Blockchain Pioneer in Credit Markets, Says Bernstein, Initiating at Outperform

Bernstein initiated coverage of Figure (FIGR) with an outperform rating and a $54 price target, calling it a leader in bringing blockchain to credit markets, the broker said in a Monday report. The stock was 2% higher in early trade, around $41.10. Bernstein said Figure is doing for lending what stablecoins did for payments, tokenizing traditional assets to make markets faster and more efficient. With roughly 75% of the $17 billion tokenized private credit market, Figure is the clear frontrunner, acco ...