Porch Group assumed with a Hold at Loop Capital

Loop Capital analyst Timothy Greaves assumed coverage of Porch Group (PRCH) with a Hold rating and $6 price target The company’s Investor Day presentation regarding their plan for the Porch Insurance Reciprocal Exchange set to launch next month and plans to reignite growth in the vertical software segment were encouraging, but the firm remains at neutral pending further evidence of execution against the management’s growth and profitability targets, the analyst tells investors in a research note.