Truist analyst Mark Hughes raised the firm’s price target on Globe Life (GL) to $105 from $90 and keeps a Hold rating on the shares. The company’s topline growth in Q3 was driven by Life premium expansion of 4% and Health premium growth of 7%, while its total underwriting profit was higher than Truist estimate due primarily to better than anticipated Life underwriting margin, the analyst tells investors in a research note. Truist is also raising its FY24 EPS view by 35c to $12.30 and its FY25 view by 80c to $13.55.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GL:
- Globe Life price target raised to $130 from $118 at Piper Sandler
- Closing Bell Movers: Tesla gains 12% as Q3 earnings beat estimates
- Globe Life reports Q3 EPS $3.49, consensus $3.06
- GL Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Globe Life price target raised to $188 from $160 at Raymond James