Globe Life attractive risk/reward masked by uncertainty, says JPMorgan

JPMorgan says Globe Life’s Q2 results exceeded expectations and affirm the view that recent the adverse publicity is unlikely to materially affect its underlying business trends. The firm says its bullish stance on shares reflects Globe Life’s “strong franchise, superior financial profile, and outsized valuation discount.” It believes regulatory uncertainty is masking the stock’s attractive risk/reward. JPMorgan has an Overweight rating on the shares with a $136 price target.