Shares of Kemper (KMPR) are experiencing a significant pre-market plunge on Thursday, dropping 10.39% following a bearish analyst report from Piper Sandler.

Piper Sandler analyst Paul Newsome has lowered the firm's price target on Kemper to $35 from $50, representing a substantial 30% reduction. The analyst maintained an Underweight rating on the stock, signaling continued pessimism about the company's prospects.

This dramatic cut in the price target appears to have sparked a sell-off among investors, leading to the steep pre-market decline. The move suggests that market participants are adjusting their expectations for Kemper's future performance in light of the analyst's bearish outlook. Investors will be closely watching for any further developments or company responses to this negative sentiment as the trading day progresses.