Lincoln National price target lowered to $29 from $30 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Lincoln National to $29 from $30 and keeps an Equal Weight rating on the shares. In Q2, most life insurance companies reported earnings that exceeded expectations, the analyst tells investors. Despite the strong results, the firm remains incrementally negative on life insurers due to the potential compression on spread-based income products and market volatility that has emerged in the past few weeks.