Market Overview

UPDATE: Citigroup Initiates Lincoln National Corporation at Neutral on Valuation

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Citigroup initiated coverage on Lincoln National Corporation (NYSE: LNC) with a Neutral rating and a $29.00 price target.

Citigroup noted, "LNC has delivered solid operating results over the past two years and is generating a 10%-11% ROE, roughly in-line with the group average. While the stock appears cheap, we believe the current discount to book value is warranted based on the company's negative “excess” returns. We are also wary of LNC's above-average exposure to products with equity market and interest-rate risk (notably variable annuities and universal life) and believe other life names offer more attractive risk-reward.

Lincoln National Corporation closed at $27.37 on Wednesday.

Latest Ratings for LNC

Oct 2015JP MorganMaintainsNeutral
Sep 2015Piper JaffrayUpgradesNeutralOverweight
Sep 2015Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for LNC
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings


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