BofA upgrades Figure to neutral, raises price target to $49

Bank of America Securities upgraded its rating on blockchain-based online lending platform Figure to neutral from underperform and raised its price target to $49 from $31, Crypto Briefing reported. The move reflects rapid growth in Figure’s consumer lending transaction volume. Its second-quarter consumer lending marketplace volume reached $4.3 billion, up 132% from a year earlier, with Figure Connect, which links lenders and funding providers, accounting for $2.8 billion.