What's Going On With Globe Life Stock?

Globe Life Inc. GL shares are trading higher Friday amid volatility following a short report on the stock from Fuzzy Panda Research.

The Details:

Globe Life shares fell more than 50% Thursday following the release of a short report from Fuzzy Panda Research which alleged multiple instances of insurance fraud. The company later issued a response refuting the claims in the report. 

Globe Life shares are rebounding on heavy trading volume Friday.  According to data from Benzinga Pro, more than 5.2 million shares have already been traded in the session, exceeding the stock’s 100-day average of 1.378 million shares.

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Will GL Stock Go Up?

When trying to assess whether or not Globe Life will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $121.86 on Globe Life. The Street high target is currently at $136.0 and the Street low target is $75. Of all the analysts covering Globe Life, 3 have positive ratings, 4 have neutral ratings and no one has negative ratings.

In the last month, 5 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Globe Life have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Globe Life is 44.64% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Globe Life, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

GL Price Action: According to Benzinga Pro, Globe Life shares are up 18.6% at $58.34 at the time of publication Friday. 

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