UPDATE: Barclays Downgrades Lincoln National (LNC) to Underweight; Headwinds Persist, Prefer MET & AFL
Tweet Send to a FriendGet Alerts LNC Hot Sheet
Price: $35.50 +0.74%
Rating Summary:
3 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
3 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade LNC Now!
(Updated - July 2, 2012 1:16 PM EDT)
Barclays downgraded Lincoln National (NYSE: LNC) from Equalweight to Underweight with a price target of $20.00 (from $30.00).
Analyst, Jay Gelb, said, "We downgrade LNC reflecting elevated sensitivity to low interest rates. Valuations is currently low at 0.56x BV ex-AOCI, respectively. However, we expect valuation to remain compressed because roughly 50% of LNC's earnings are interest-rate sensitive. Our top Life Insurance picks (MetLife (NYSE: MET) and Aflac (NYSE: AFL) appear to have less sensitivity to falling interest rates."
Gelb lowers FY12 EPS estimate from $3.95 to $3.85 and FY13 from $4.25 to 4.15.
For an analyst ratings summary and ratings history on Lincoln National click here. For more ratings news on Lincoln National click here.
Shares of Lincoln National closed at $21.87 yesterday, with a 52 week range of $13.75-$29.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Barclays downgraded Lincoln National (NYSE: LNC) from Equalweight to Underweight with a price target of $20.00 (from $30.00).
Analyst, Jay Gelb, said, "We downgrade LNC reflecting elevated sensitivity to low interest rates. Valuations is currently low at 0.56x BV ex-AOCI, respectively. However, we expect valuation to remain compressed because roughly 50% of LNC's earnings are interest-rate sensitive. Our top Life Insurance picks (MetLife (NYSE: MET) and Aflac (NYSE: AFL) appear to have less sensitivity to falling interest rates."
Gelb lowers FY12 EPS estimate from $3.95 to $3.85 and FY13 from $4.25 to 4.15.
For an analyst ratings summary and ratings history on Lincoln National click here. For more ratings news on Lincoln National click here.
Shares of Lincoln National closed at $21.87 yesterday, with a 52 week range of $13.75-$29.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: JPMorgan Cuts SodaStream (SODA) to Neutral, 'Stock No Longer Cheap'
- Urban Outfitters (URBN) Added to Best Ideas List at Janney Capital on Solid Q1 Results
- Benchmark Boosts PT on R.R. Donnelley (RRD)
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades, Hot DowngradesRelated Entities
Barclays, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
