UPDATE: Bank of America Raises PT on Lincoln National Corporation on Improving Risk Profile
In a report published Monday, Bank of America reiterated its Buy rating on Lincoln National Corporation (NYSE: LNC), and raised its price target from $34.00 to $38.00.
Bank of America noted, “New disclosures in Lincoln's 10-K allow us to better compare Lincoln's variable annuity (VA) exposure to its peers, revealing a stronger risk profile than we originally expected. We now believe that Lincoln's cost of equity should be more in line with its peers, and that its discount to the group should narrow.”
Lincoln National Corporation closed on Friday at $33.00.
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