Globe Life Inc. Issues Statement Refuting Short Seller Allegations
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April 12, 2024 12:05 PM EDT
CFRA analyst Catherine Seifert downgraded Globe Life (NYSE: GL) from Hold to Sell with a price target of $55.00 (from $63.00).
The analyst comments "We cut our 12-month target price by $63 to $55. Our revised target price values the shares at 4.8x our 2024 operating EPS... More
April 12, 2024 6:04 AM EDT
Keefe, Bruyette & Woods analyst Ryan Krueger reiterated a Market Perform rating and $130.00 price target on Globe Life (NYSE: GL)
The analyst comments "GL sold-off -53% following a short report from Fuzzy Panda Research alleging widespread insurance fraud within American Income (AIL), which follows... More
April 12, 2024 4:30 AM EDT
Evercore ISI analyst Thomas Gallagher lowered the price target on Globe Life (NYSE: GL) to $75.00 (from $125.00) while maintaining a In Line rating.
The analyst comments "This morning, Fuzzy Panda Research published a scathing short selling report on GL, accusing the firm of agent mis-selling practices, insurance fraud, aggressive accounting, a distribution pyramid scheme, and an overall toxic workplace environment. With the recent disclosure that the DOJ has issued a subpoena to the company to investigate some of these allegations, we think this has created significant uncertainty for the shares as demonstrated by... More
