Lincoln National price target raised, named Franchise Pick at Jefferies

Jefferies raised the firm’s price target on Lincoln National (LNC) to $59 from $52 and keeps a Buy rating on the shares, which were also named as a Franchise Pick. For Lincoln, the firm expects greater details on its path to a 45-60% free cash flow conversion level, with risk transfer as “a potential kicker,” and for the broader U.S. life insurance space the firm stays constructive, the analyst tells investors.