Globe Life price target lowered to $80 from $125 at Truist

Truist lowered the firm’s price target on Globe Life to $80 from $125 and keeps a Hold rating on the shares. The company has retained a major law firm to conduct an independent review of the assertations in the published bear thesis, which management believes are false and misleading, also emphasizing that Globe Life’s billing and revenue recognition policies make it very difficult for bad actors to perpetrate fraud, the analyst tells investors in a research note. The firm adds however that it sees the stock as “fairly valued”.