LNC Posts Inline Results For Q4, 2010 And 2011 Outlook Remains Stable

Analysts at FBR Capital Markets maintain their "outperform" rating on Lincoln National Corporation (NYSE: LNC). The target price for LNC is set to $35.

Lincoln National reported its Q4 EPS ahead of the estimates and the consensus, driven by improved operating margins across the company. LNC’s outlook for 2010 and 2011 remains stable, the analysts say.

“Recent market action highlights that LNC remains a levered beta and credit play, which could affect the timing of TARP repayment… However, we believe that the forward momentum of operating results in 2009 implies that valuation closer to tangible book value is more appropriate near term, with recovery toward book value longer term,” FBR Capital Markets adds.

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