Figure initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Figure (FIGR) with a Buy rating and $42 price target which implies 4% upside. The firm views the company as a “unique lender” in public markets, with blockchain and other technology underlying its loans. Figure should see share gains within its core home equity loan product and total addressable market expansion into other consumer loans, the analyst tells investors in a research note.