Daniel Kurnos, an analyst from Benchmark Co., maintained the Buy rating on Porch Group. The associated price target remains the same with $21.00.
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Daniel Kurnos has given his Buy rating due to a combination of factors that suggest Porch Group is poised for significant growth. Despite a challenging third quarter, the company appears to be stabilizing, and its EBITDA outlook remains strong. Kurnos highlights that Porch Group has a better understanding of its surplus math and has strategically moderated RWP growth, which could lead to accelerated growth and lucrative mergers and acquisitions by 2026 without requiring additional capital.
Furthermore, Kurnos points out that Porch Group’s statutory surplus is nearly intact despite stock price fluctuations, allowing the company to pursue acquisitions using excess surplus. This strategy, combined with Porch Group’s lower gross loss ratio compared to potential acquisition targets, presents substantial synergies and opportunities for growth. Additionally, the introduction of Porch Insurance policies in early 2026 is expected to enhance the company’s offerings and appeal to agents, further boosting its growth potential.