Figs price target raised to $15 from $8 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Figs (FIGS) to $15 from $8 and keeps an Equal Weight rating on the shares. Fundamentals have meaningfully improved on sharper execution, but with the stock up 108% over the past six months, it is now pricing in sustained double-digit percentage growth and significant margin expansion, the analyst tells investors.