Lincoln National price target lowered to $32 from $42 at Morgan Stanley

Morgan Stanley analyst Bob Huang lowered the firm’s price target on Lincoln National (LNC) to $32 from $42 and keeps an Equal Weight rating on the shares. On average across the firm’s life insurance coverage, Q1 EPS estimates declined 3% from prior estimates and its 2025 EPS estimates declined 4% from prior estimates, though results vary across companies, notes the analyst in a preview for the group. For underwriting-oriented companies that should not be as sensitive to equity market fluctuations, the firm’s estimates generally did not change as much, but it still moved underwriter estimates down as they likely face an incrementally more challenging operating environment, the analyst noted.