Globe Life (GL) PT Lowered to $80 at Truist Securities

Truist Securities analyst Mark D. Hughes lowered the price target on Globe Life (NYSE: GL) to $80.00 (from $125.00) while maintaining a Hold rating.

The analyst commented: "We are raising our 2024 EPS estimate to $11.70 from $11.55 based on management’s increased guidance for share repurchases and excess investment income and boosting our 2025 estimate to $12.55 from $12.35. We are lowering our price target to $80 from $125 based on an assumed multiple of 7x our 2025 estimate. Our Hold rating reflects our view that GL shares are fairly valued."

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