After Globe Life filed an 8-K announcing that it has received “a preliminary, informal inquiry from the SEC’s Fort Worth Regional Office requesting information related to recent short seller reports,” Evercore ISI said the firm is not changing its price target or forward estimates on this most recent update. However, the firm views this update as one that highlights that there are “still enough risks and uncertainty with this evolving situation to prevent GL shares to recover to its prior valuation levels, at least until the DOJ / SEC inquiries reach a resolution.” The firm maintains an In Line rating and $83 price target on Globe Life shares, which are down $3.67, or 4%, to $82.34 in afternoon trading.
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