Hippo resumed with a Buy at B. Riley

B. Riley analyst Timothy D’Agostino resumed coverage of Hippo (HIPO) with a Buy rating and $38 price target implying a potential return of 37%. The firm believes the company’s shift in underwriting mix to diversify across personal and commercial lines while continuing to primarily focus on homeowners insurance is attractive. Diversifying across these lines will likely help with Hippo’s risk over time, the analyst tells investors in a research note.