Keefe, Bruyette & Woods Increases Torchmark PT To $76, Reiterate Outperform (TMK)

Keefe, Bruyette & Woods increased its Torchmark TMK price target from $71 to $76 and reiterated its Torchmark Outperform in a research report published today. In the report, Keefe, Bruyette & Woods state, "We're revising our TMK estimates and price target following 4Q results. Our estimates are coming down slightly, although still above consensus, primarily due to lower share repurchase accretion after the stock's appreciation. We're increasing our price target to $76 from $71. We reiterate our Outperform rating, believing that the high level and low-risk nature of TMK's ROE should command a still-higher multiple." Shares of Torchmark closed last Friday at $65.45, reflecting no change from Thursday's market close.