BofA Upgrades $FIGR to Neutral from Underperform, Raises PT to $49 from $31
BofA sees a stronger revenue growth outlook into 2028, driven by momentum at Figure Connect, while valuation has become less of a concern.
The firm highlights FIGR’s 132% y/y volume growth in 2Q26, Figure Connect rising to 65% of total volumes, and strong partner additions.
BofA also expects 3Q26 volumes to come in near the high end of guidance, with the Kiavi acquisition adding further upside.
Analyst: Craig Siegenthaler