Two main investment banks of Wall Street have issued different points of view on the newly public figure of the company Fintech (Figr), since the company works to expand its loan and capital market platform based on blockchain beyond domestic capital credit lines.
Keefe, Bruyette & Woods (KBW) initiated the coverage of the figure with a “higher performance” rating and an objective price of 12 months of $ 48.50, which suggests 17.5% upwards. The bank praised the early domain of the figure in the tokenized credit markets, where it has 73% of the private credit segment and 39% of all assets in the real world tokenized, according to KBW estimates.
Founded by former Sofi Mike Cagney CEO, figure was made public in September and has risen 12% since its IPO. Its main business touches Heloc and connects borrowers to investors through a vertically integrated platform that includes the origin of loans, distribution and a digital asset market.
KBW considers that the figure technological battery is underutilized and capable of supporting a broader range of credit assets, such as first level mortgages and personal loans. He also pointed out products such as the exchange of figures and a tokenization tool for third -party assets.
Another corridor, Bernstein, initiated the coverage previously in the actions with a more optimistic perspective. He qualifies the figure as a “higher yield” with an objective price of $ 54, citing that the company is doing for lending what Stablecoins did for payments, tokenizing traditional assets to make the markets faster and more efficient.
Read more: The figure is a pioneer of blockchain in credit markets, says Bernstein, starting in higher performance
The other side
Bank of America, however, gave a more cautious vision.
He began coverage with a “neutral” rating and an objective price of $ 41, citing risks around the execution, regulation and dependence of the figure of his Heloc business, which still generates most of his profits and is not yet completely native to Blockchain.
Bafa Ve Figurs Connect, a new market that helps lenders to coincide with capital suppliers, such as the company’s next growth promoter. The bank expects 75% of the company’s total income growth between 2024 and 2027.
While both banks recognized the leadership of the figure in a careless corner of consumer loans, diverged in the ease with which the company can climb on a broader Fintech platform. Bofa cited possible obstacles that incorporate large institutions, competence of other technology suppliers and changing regulatory rules, including updates of the law of truth in loans.
The difference in the price objectives, $ 48.50 of KBW versus $ 41 of Bofa, reflects the uncertainty that surrounds if the blockchain infrastructure of the figure can pass from a niche use to a more central role in modern finances.
Read more: Blockchain OPI headquarters figure for $ 25 per share, raising almost $ 788 million
