After Lincoln National (LNC) announced a strategic relationship with Bain, whereby the latter is acquiring a 9.9% stake through an equity issuance at $44 per share, Evercore ISI analyst Thomas Gallagher said the firm views the deal as a positive that illustrates the strategic value that “a well regarded alternative manager sees” in a Lincoln partnership. For the broader sector, the firm also thinks the deal is a reminder that the life insurance sector should be more resilient after the current market weakness. Evercore has an In Line rating and $44 price target on Lincoln National shares.
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