Figs upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs upgraded Figs (FIGS) to Neutral from Sell with a price target of $14, up from $7.50, following the Q4 report. The improvement across the company’s business is much stronger than expected, the analyst tells investors in a research note. The firm adds that management commentary suggests Figs’ momentum has continued in Q1 and should support double-digit sales growth in 2026. Goldman admits to being wrong on the shares and sees a more balanced risk/reward at current levels.