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Globe Life Stock Surges 7% as Regulatory Probe Ends and Analysts Turn Bullish
Globe Life Stock Surges 7% as Regulatory Probe Ends and Analysts Turn Bullish
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BTCCSquare news:
Globe Life's stock soared nearly 7% on Tuesday, sharply outperforming the broader market's slight decline. The rally followed two key developments: formal closure of a fraud investigation by the U.S. Department of Justice and upbeat analyst notes from Keefe, Bruyette & Woods and TD Cowen.
The DOJ's Western Pennsylvania office confirmed no enforcement action WOULD be taken regarding short seller allegations against the insurer and its American Income Life subsidiary. Analyst Ryan Krueger raised his price target to $160 while maintaining an Outperform rating, citing improved fundamentals. TD Cowen's Andrew Kligerman was even more bullish, reiterating his Buy recommendation with a $182 target.
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