Bank of America Securities analyst Joshua Shanker reiterated a Hold rating on Lincoln National (LNC – Research Report) yesterday and set a price target of $35.00.
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Joshua Shanker gave his rating based on several factors, including Lincoln National’s mixed financial performance. The company showed strong results in its Group Protection and Annuities segments, which exceeded expectations and contributed positively to its earnings per share. However, these gains were offset by weaker outcomes in Life Insurance and increased losses in Other Operations, leading to a balanced overall performance.
Furthermore, while Lincoln National has demonstrated strong growth potential in certain areas, such as the launch of their Bermuda-based reinsurance subsidiary, there are concerns about execution risk and possible volatility in the macroeconomic environment. The decision to delay share repurchases until 2026, combined with a slight decrease in the price objective, reflects a cautious outlook. As a result, Shanker maintains a Hold rating, suggesting that while the stock might not significantly outperform, it provides a stable dividend yield and a modest total return.
In another report released today, Barclays also maintained a Hold rating on the stock with a $38.00 price target.
LNC’s price has also changed moderately for the past six months – from $29.430 to $35.770, which is a 21.54% increase.