Porch Group price target raised to $17 from $14 at Oppenheimer

Oppenheimer raised the firm’s price target on Porch Group (PRCH) to $17 from $14 and keeps an Outperform rating on the shares as strong insurance execution continues driving upside to profitability. The firm notes Q2 consolidated GP was 18% above OpCo estimate, with insurance GP 24% above. Guidance for growth in FY25 GP/EBITDA was only 2%/4%, suggesting second half of the year conservatism, the firm adds.