Bernstein: Figure Technology's Tokenized Credit Platform Could Double Stock Price

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On April 7, Bernstein analysts stated that Figure Technology Solutions, a blockchain-based lending platform that went public last year, may currently be undervalued due to an acceleration in loan issuance and the expansion of its tokenized credit market. A report released by Bernstein on Monday assigned Figure an ‘Outperform’ rating, with a target price of $67—almost double the stock’s recent trading level of around $32. The bullish outlook is driven by a surge in loan activity. Figure issued $1.2 billion in loans in March, a 33% increase from the previous month, marking the first time monthly loan issuance surpassed the $1 billion mark.

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