Market Overview

UPDATE: Citigroup Initiates Lincoln National Corporation at Neutral on Valuation

Share:

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

DateFirmActionFromTo
Jun 2019UpgradesNeutralBuy
May 2019MaintainsNeutral
Apr 2019MaintainsNeutralNeutral

View More Analyst Ratings for LNC
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (LNC)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
DEReiterates175.0
AMWDMaintains92.0
FTDRMaintains55.0
REDUDowngrades
ZSDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Citigroup Initiates Hartford Financial Services at Buy on Catalysts

UPDATE: Supervalu Posts FQ3 Profit