Craig-Hallum raised the firm’s price target on Porch Group (PRCH) to $8 from $4 and keeps a Buy rating on the shares. At its recent investor event, Porch laid out a path to substantially scale the business through both insurance and software, providing long-term targets of $2B of revenue and $600M of EBITDA, the analyst tells investors in a research note. Craig-Hallum believes Porch has the ability to aggressively return to policy growth leveraging home data, which should drive strong growth trends across the insurance business.
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Read More on PRCH:
- Porch Group Announces Investor Day for Strategic Plans
- Porch Group to host investor day
- Porch Group EBITDA targets ‘seem aggressive,’ says Keefe Bruyette
- AT&T announces long-term targets, BlackRock acquires HPS: Morning Buzz
- Porch Group jumps 31% to $4.95 after investor day financial targets
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
