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.
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