Bernstein sets $67 target on Figure Technology, cites scaling tokenized credit platform

Bernstein rated Figure Technology Solutions "Outperform" and set a $67 price target, nearly double its recent level around $32. The analysts pointed to March loan originations of $1.2 billion, up 33% month over month, and first-quarter originations of $2.9 billion as its tokenized credit marketplace scales. Figure shares are down more than 20% year to date after a Nasdaq debut last September that valued the company at nearly $800 million.