Globe Life price target raised to $135 from $127 at Morgan Stanley

Morgan Stanley analyst Bob Huang raised the firm’s price target on Globe Life (GL) to $135 from $127 and keeps an Equal Weight rating on the shares. With “marginally better than expected” earnings and a large share price move, some investors asked how durable is the post results share price appreciation, notes the analyst, who views the share price rebound as “justified.” However, the firm believes the company needs further clarity from the DOJ probe for the stock to see additional upside, the analyst added.