Globe Life upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded Globe Life (GL) to Outperform from In Line with a price target of $143, up from $132. The stock has materially recovered from its 2024 lows following short seller reports, but the stock still underperformed the sector by over 30% in 2024, the analyst tells investors. While there is still some potential risk from that initial DOJ inquiry that was first disclosed in early 2024, the firm expects growth to largely remain intact in 2025 and 2026, which it argues should allow Globe to continue to produce EPS growth above most life insurance peers.