Horace Mann price target lowered to $39 from $40 at Piper Sandler

Piper Sandler analyst John Barnidge lowered the firm’s price target on Horace Mann to $39 from $40 and keeps a Neutral rating on the shares ahead of the Q1 report. There is near-term volatility to life insurance company earnings from variable investment income headwinds and commentary around spread income peaking, but valuations “are generally not screening as overly optimistic,” the analyst tells investors in a research note.