Capstone Holding Corp. lowers convertible note conversion price to $1.00
Investing.com - Truist Securities initiated coverage on Globe Life (NYSE:GL) with a Buy rating and a price target of $150.00 on Tuesday. The company, currently trading at $120.69, has demonstrated strong fundamentals with a P/E ratio of 9.75 and impressive year-to-date returns of 8.92%.
The research firm cited the opportunity to purchase "a durable long-term performer at a discount" as the primary reason for its positive outlook on the insurance company.
Truist noted that Globe Life has maintained a sustained record of consistent growth in both revenue and earnings, which historically made the stock "seemingly always fully valued" while still typically outperforming the market.
According to Truist, investors can now purchase GL shares at a discount valuation due to what it described as "a misguided short report" and, to a lesser extent, short-term volatility in medical utilization.
Globe Life, headquartered in McKinney, Texas, provides life insurance and supplemental health insurance products.
In other recent news, Globe Life Inc. reported its first-quarter earnings for 2025, revealing an earnings per share (EPS) of $3.07, which fell short of the anticipated $3.24. However, the company surpassed revenue expectations, achieving $1.48 billion against the forecasted $1.45 billion. Globe Life also completed a significant $500 million issuance of Pre-Capitalized Trust Securities to bolster its contingent liquidity. Meanwhile, TD Cowen reiterated its Buy rating for Globe Life, citing its strong business model and maintaining a price target of $168.00, despite ongoing regulatory inquiries. Conversely, Evercore ISI adjusted its price target for Globe Life, lowering it slightly from $143.00 to $141.00, following weaker-than-expected health insurance earnings in the first quarter. Evercore ISI noted that Globe Life’s overall earnings guidance for the year remains unchanged, supported by a life insurance reserve release. Additionally, Globe Life is expected to announce its capital strategy plans involving its Bermuda captive reinsurance vehicle with its upcoming second-quarter results.
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