Globe Life price target lowered to $130 from $143 at Piper Sandler

Piper Sandler lowered the firm’s price target on Globe Life to $130 from $143 and keeps an Overweight 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.