Keefe Bruyette analyst Ryan Tomasello raised the firm’s price target on Porch Group (PRCH) to $16 from $7 and keeps a Market Perform rating on the shares. The firm is willing to give more credit for the company’s new capital-light operating structure and resulting benefits with a higher multiple, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRCH:
- Porch Group management to meet virtually with Benchmark
- Porch Group’s 2030 Notes: A Looming Financial Risk with Potential Liquidity Strain
- Porch Group, Inc. Reports Strong Q2 Earnings
- Porch Group: A Compelling Buy with Strong Growth and Strategic Risk Management
- Disney reports Q3 beat and NFL deal, Uber authorizes $20B buyback: Morning Buzz