BofA analyst Craig Siegenthaler downgraded Figure (FIGR) to Underperform from Neutral with a price target of $42, down from $43. The stock has returned 109% in the five months since its IPO, while Coinbase (COIN) is down 41% since Figure’s IPO, notes the analyst, who calls the valuation gap “too wide.” Short interest is low at 2% and there also was insider selling activity in Q4, the analyst also noted.
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