Lincoln National (LNC) Jumps Higher On Upgrade, Hopes for TARP Funds
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After trading flat earlier, shares of Lincoln National Corp. (NYSE: LNC) are taking off in mid-day action. Shares are now up 16% following this morning's upgrade from Bank of America.
Bank of America upgraded shares of the life insurer two-notches, from Underperform to Buy, saying they expect the company to qualify for and accept TARP funds. The analyst said the TARP funds will reduce fears that common equity holders will get wiped-out. The firm raised their price target from $10 to $17.
Shares of Lincoln National are up 16% currently to $10.20, but still down 80% over the last year.
Bank of America upgraded shares of the life insurer two-notches, from Underperform to Buy, saying they expect the company to qualify for and accept TARP funds. The analyst said the TARP funds will reduce fears that common equity holders will get wiped-out. The firm raised their price target from $10 to $17.
Shares of Lincoln National are up 16% currently to $10.20, but still down 80% over the last year.
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