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Keefe Bruyette analyst Ryan Tomasello raised the firm’s price target on Porch Group (PRCH) to $6 from $3.50 and keeps a Market Perform rating on the shares. The firm tells investors that it would not be surprised to see the stock give back gains following the presumed short covering.

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Read More on PRCH:

• Cautious Hold Rating on Porch Group Amid Revenue Challenges and Valuation Concerns

• Porch Group price target raised to $6 from $3.50 at Keefe Bruyette

• Porch Group’s Earnings Call: Optimism Amid Challenges

• Amazon introduces Alexa+, GM announces $6B stock buyback: Morning Buzz

• Porch Group price target raised to $8 from $7 at Oppenheimer