Barclays Reiterates an 'Overweight' on Torchmark (TMK) After Meeting With Management

Barclays reiterates an 'Overweight' on Torchmark (NYSE: TMK) price target of $55.00.

Analyst, Sarah DeWitt, said, "We met Torchmark management including CEO Mark McAndrew and CFO Gary Coleman. Overall, management was upbeat about its prospects to grow sales and premiums in its core Direct and American Income life insurance businesses, and our sense is the company's outlook for 2012 sales growth could be conservative."

DeWitt also mentioned, "TMK trades at a premium to other life insurers at 9.1x our 2012 EPS estimate of $5.25 and 1.48x BV ex AOCI and DAC accounting change, although this is warranted due to its robust ROE with low volatility."

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 $47.74 yesterday.

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