Torchmark (TMK) PT Trimmed to $59 at Piper Jaffray

Piper Jaffray analyst John Nadel trimmed estimates and his price target on Torchmark (NYSE: TMK) to $59.00 (from $60.00) while maintaining a Neutral rating.

Nadel commented, "It appears the margin pressure witnessed in Direct Response in 2Q15 is not only likely to persist, but given management commentary (which could prove conservative), it seems experience will worsen over the next two years. While modest in nature, we are cutting our 2016/17E EPS by another 1% and 2%, respectively. Our price target, based on 12x our 2017E EPS, drops from the prior $60 to new $59. Fundamentally, we see little if any upside in TMK shares and reiterate our Neutral rating."

For an analyst ratings summary and ratings history on Torchmark click here. For more ratings news on Torchmark click here.

Shares of Torchmark closed at $59.87 yesterday.

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