Bernstein has upgraded Figure Technology Solutions (FIGR) to a "top pick" for 2026, raising its price target from $54 to $72. This new target suggests a 38% potential upside from the stock's recent closing price of $52.23. The upgrade is driven by the company's robust growth in its tokenized credit market and improved operating leverage. Analysts, led by Gautam Chhugani, highlighted Figure's strategic positioning to capitalize on the evolving banking industry and regulatory clarity under the proposed U.S. Clarity Act. The company's consumer loan market reached $2.7 billion in Q4, with its tokenized credit platform, Figure Connect, contributing significantly. Figure is also expanding into new loan products and plans to launch a tokenized equity platform, aiming to create a secondary market for its equity.