Figure’s Wall Street Debut Draws Mixed Reactions
Blockchain lender Figure (FIGR) is gaining attention for its dominance in tokenized credit markets, but analysts differ on its growth prospects.
KBW: Bullish Outlook
Keefe, Bruyette & Woods (KBW) gave an “outperform” rating with a $48.50 12-month target, citing Figure’s 73% share of private tokenized credit and 39% of all tokenized real-world assets. KBW sees potential for expansion into first-lien mortgages, personal loans, and third-party tokenization via Figure Exchange.
Bernstein Shares Optimism
Bernstein also rated Figure “outperform” with a $54 target, noting that its tokenization model makes lending faster and more efficient, similar to stablecoins in payments.
BofA: Cautious Stance
Bank of America rated Figure “neutral” at $41, pointing to regulatory, execution, and HELOC concentration risks. It highlighted Figure Connect, the firm’s lender-capital matching marketplace, as a key growth driver, projected to contribute 75% of revenue growth from 2024–2027.
Divergent Views Highlight Uncertainty
While all acknowledge Figure’s leadership in tokenized credit, the gap between KBW’s $48.50 and BofA’s $41 targets underscores uncertainty over the company’s ability to scale blockchain solutions across broader fintech markets.
