Piper Sandler analyst John Barnidge lowered the firm’s price target on Lincoln National to $23 from $36 and keeps a Neutral rating on the shares. The bank failures in March have overshadowed a continued improving mortality environment for insurers, the analyst tells investors in a research note. The firm also thinks long-duration targeted improvement accounting changes will smooth out the earnings volatility of mortality-based businesses.
Published first on TheFly
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