UPDATE: KeyBanc Starts Figs Inc. (FIGS) at Overweight
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KeyBanc analyst Edward Yruma initiates coverage on Figs Inc. (NYSE: FIGS) with a Overweight rating and a price target of $45.00.
The analyst comments "FIGS is a unique and mission-driven lifestyle brand. Over our 15+ years, it is not often that we see a brand become a noun for the product that it represents (e.g., lululemon, Crocs, Jordans). We have learned that once you hit this tipping point, and in tandem with a commitment to innovation, financial results remain strong and prove to be durable. We find many analogues with the development of lululemon and discuss it at length herein. A notable difference worth highlighting is that FIGS has favorable competitive dynamics, and we think that the existing pricing and margin structure can remain intact."
Shares of Figs Inc. closed at $36.40 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
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