J.P. Morgan analyst Jimmy Bhullar has maintained their bullish stance on GL stock, giving a Buy rating today.
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Jimmy Bhullar has given his Buy rating due to a combination of factors surrounding Globe Life’s recent developments. The completion of the Department of Justice’s investigation without any actions against Globe Life is a significant positive, as it removes a major uncertainty that had been hanging over the stock. This follows a similar conclusion from the SEC review, further solidifying confidence in the company’s regulatory standing.
Bhullar notes that these regulatory outcomes do not materially alter his view of Globe Life’s business, as he had already considered the likelihood of negative outcomes to be low. The removal of these potential legal overhangs is expected to positively impact investor sentiment and support the stock’s performance, reinforcing his optimistic outlook on Globe Life’s future prospects.
In another report released today, KBW also maintained a Buy rating on the stock with a $160.00 price target.