Brokerages initiate coverage on Figure Technology as quiet period ends
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Brokerages have initiated coverage on Figure Technology following the end of the research quiet period, with eight firms giving largely bullish ratings. Shares rose nearly 6% to about $42.7 after debuting at $36 on the NYSE, valuing the company at $7.62 billion. Analysts highlight Figure's dominance in tokenized private credit and its innovative loan origination system. Ratings and price targets include Bernstein (Outperform, $54), Needham (Buy, $51), and BofA (Neutral, $41).
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