Piper Sandler upgraded Forge Global (FRGE) to Overweight from Neutral with an unchanged price target of $30. The firm cites valuation and growing momentum in private markets for the upgrade. Forge Global shares are currently undervalued trading at just 1.4-times estimated 2026 sales with essentially no debt, the analyst tells investors in a research note. The firm says momentum is building in private markets and Forge “has an industry-leading offering.”
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