Piper Sandler keeps an Overweight rating on Globe Life with a $130 price target after the company refuted a short report from Fuzzy Panda Research. Globe Life’s statement “serves to assuage concerns but does not completely remove the vacuum that remains absent a broader communication about this matter with the investment community,” the analyst tells investors in a research note. The firm believes the company is planning a broader communication disputing why the short seller report is false. In the meantime, it expects the shares trade higher following Globe Life’s statement. The stock in premarket trading is up 13%, or $6.35, to $55.52.
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