Porch Group price target raised to $5 from $4 at Stephens

Stephens analyst John Campbell raised the firm’s price target on Porch Group (PRCH) to $5 from $4 and keeps an Overweight rating on the shares. The firm believes that Porch’s approval for the reciprocal exchange “marks the most important moment in its short history” and while it will undoubtedly result in an overhaul and re-make of the P&L, Stephens foresees “a net-positive outcome,” the analyst tells investors.