FIGS stock has bullish potential due to its undervaluation and growth opportunities. The current price of $6.02 is near the proposed buyout offer of $6 per share, but analysts and activist investors like Bamco argue that the company’s intrinsic value is higher, with a potential target of $11.36 based on normalized free cash flow projections. Additionally, FIGS’ strong brand equity, international expansion, and recession-resistant business model position it for long-term growth.