Mizuho initiated coverage of Figure (FIGR) with an Outperform rating and $47 price target The firm believes the company is positioned to “increasingly disrupt” the $250B-$300B U.S. home equity line of credit market with its blockchain-powered, asset-light platform. Figure has several competitive advantages to help it sustain a “competitive moat.” including a proprietary blockchain loan origination system that funds HELOCs, the analyst tells investors in a research note.
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