UPDATE: KeyBanc Starts Figs Inc. (FIGS) at Overweight

June 21, 2021 1:50 AM EDT
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Price: $39.15 +7.88%

Rating Summary:
    8 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 25 | New: 45
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(Updated - June 21, 2021 4:29 AM EDT)

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."

For an analyst ratings summary and ratings history on Figs Inc. click here. For more ratings news on Figs Inc. click here.

Shares of Figs Inc. closed at $36.40 yesterday.

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