Porch Group price target raised to $10 from $8 at Stephens

Stephens analyst John Campbell raised the firm’s price target on Porch Group (PRCH) to $10 from $8 and keeps an Overweight rating on the shares. Porch’s journey over the last two years has been bumpy with inflation triggering a “double whammy” across both of its key end markets in U.S. housing and insurance, but Porch has exited that stretch with a clearer strategic focus, a leaner operation, and a model that is designed to both yield greater visibility/simplicity and one that should better insulate the company against any potential future market turbulence, the analyst tells investors in a research note. The firm sees “plenty” of headroom.