Lincoln National rises after Jefferies upgrades to 'hold'

Lincoln National

12/02/2024 19:05

** Insurer Lincoln National's  LNC.N  shares rise 7.6% to
$27.6
    ** Jefferies upgrades LNC to "hold" from "underperform";
raises PT to $26 from $22
    ** Brokerage says LNC provided greater clarity on its plan
to improve free cash flow, which could be $0.8 bln in 2026 as
per LNC forecast vs Jefferies prior estimate of $0.6 bln
    ** Upgrades LNC on improved risk-based capital ratio of
400%, which should become ~425% when the sale of its wealth
management business is finalized
    ** RBC ratio is used to compare a financial institution's
level of capital to its level of risk
    ** One of 14 brokerages rate the stock "buy" or higher, 12
"hold" and one "sell" or lower; their median PT is $28 - LSEG
    ** Stock fell 12.2% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))