Piper Jaffray maintained an Overweight rating on Lincoln National (NYSE: LNC), and cut the price target to $56.00 (from $60.00), following the company's 4Q earnings report. LNC reported 4Q15 Op EPS of $1.54, below consensus estimates of $1.56.

Analyst John Nadel commented, "Aside from lower alternatives NII, fundamentals were generally within/above our expectations. Buybacks totaled another $200M (retired 6.2% of shares during 2015). With valuation at just 5.7x our 2017E EPS and 0.72x 4Q15 BVPS excl. AOCI with a roughly 12% ROE, we think the shares offer compelling value and remain buyers."

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 $37.51 yesterday.