Bernstein lists Figure (FIGR) as the "top pick" for 2026, raising the target price to $72

BlockBeats News, January 13, analysts at research and brokerage firm Bernstein have raised the target price of Figure Technology Solutions (stock code: FIGR) from $54 to $72, and have listed it as the "top recommended stock" for 2026. The analysts pointed out that the company's tokenized credit market has grown beyond expectations, and its operating leverage continues to improve. The new target price implies about 38% potential upside from the stock's closing price of $52.23 on Monday. Since initiating coverage last October, Bernstein has consistently given the stock an "outperform" rating.

In a client report released on Tuesday (January 14), the analyst team led by Gautam Chhugani noted that blockchain-based lender Figure stands out amid banking industry transformation and under the more defined regulatory framework being built by the US "Clarity Act" (a proposed crypto market structure bill). The report stated that Figure replaces traditional bank ledger systems with blockchain infrastructure, and its tokenized equity business has long-term growth potential.

Bernstein stated that, driven by a partner-led market model and the expansion of new loan categories, Figure's performance has exceeded what were already "quite optimistic" expectations. The total size of its consumer loan market reached about $2.7 billions in the fourth quarter, with the tokenized credit platform Figure Connect handling about 46% of the credit volume compared to the previous quarter.

The report particularly emphasized that, based on its core HELOC business, Figure is actively expanding into new products such as debt service coverage loans, small business loans, and crypto asset-backed loans. The company also plans to tokenize its own equity and launch a tokenized equity platform to build a secondary market. Analysts believe the equity business is a long-term "strategic option" rather than a short-term revenue driver.