FIGS, the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Robert Drbul from BTIG reiterated a Buy rating on the stock and has a $12.00 price target.
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Robert Drbul has given his Buy rating due to a combination of factors that highlight FIGS’ potential for growth and competitive positioning. The company is benefiting from strategic investments in international markets, team businesses, and community hubs, which are expected to drive significant growth. Additionally, the management’s focus on consistency and execution has been encouraging, prompting an increase in the price target from $10 to $12.
Another critical factor is the company’s investment in its leadership team, which includes key figures such as the COO and Chief Product Officer, who are instrumental in driving growth and performance. FIGS’ proprietary fabrications, such as FIONx and the upcoming FIBREx, provide a competitive edge, and the brand’s visibility through partnerships with the U.S. Olympic Medical team enhances its market presence. The company’s international expansion strategy, aiming to increase its market reach from 33 to nearly 60 countries by 2025, further underscores its growth potential. These elements collectively justify the premium valuation and Buy rating.
According to TipRanks, Drbul is a 4-star analyst with an average return of 4.5% and a 53.07% success rate. Drbul covers the Consumer Cyclical sector, focusing on stocks such as FIGS, Columbia Sportswear, and Ralph Lauren.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $10.50 price target.