Lincoln National price target lowered to $46 from $50 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Lincoln National (LNC) to $46 from $50 and keeps an Overweight rating on the shares. The firm is updating its price targets for Insurance – Life/Annuity North America stocks under its coverage, the analyst tells investors. While Morgan Stanley is not concerned about life insurers’ exposure to private credit, the broader industry will likely feel pressure on their valuation.