Globe Life price target lowered to $108 from $132 at Wells Fargo

Wells Fargo analyst Wesley Carmichael lowered the firm’s price target on Globe Life to $108 from $132 and keeps an Overweight rating on the shares. The firm notes Globe Life shares traded up reflective of positive commentary on capital return, even though the company could not say much about ongoing litigation. They are not seeing much impact on AIL agents/sales to-date, but recognize it is early days, Wells adds.