Lincoln National price target raised to $29 from $26 at Evercore ISI

Evercore ISI raised the firm’s price target on Lincoln National to $29 from $26 and keeps an In Line rating on the shares after the company announced that it has signed a stock purchase agreement with Osaic, which will acquire Lincoln’s wealth management business. The sale of the owned advisor firms “appears to us to be a good tactical strategy for bolstering capital, while minimizing earnings dilution,” says the analyst, who doesn’t think LFA was contributing any outsized contribution to overall sales and doesn’t see much risk to future production as a result of the deal.