05:40 AM EDT, 05/11/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target price by $5 to $38. This values LNC shares (currently yielding 5%) at 4.8x our 2027 operating EPS estimate of $7.87 (cut by $0.53) and at 5x our 2026 EPS estimate of $7.63 (lowered by $0.37), vs. LNC's three-year average forward multiple of 4.4x and the peer group average of 9x. Q1 operating EPS of $1.66 vs. $1.60, topped the $1.58 consensus but missed our $2.08 estimate. Operating revenues rose 3.4%, on 9.8% higher investment income, fractionally lower premiums, and flat fee revenues. Life insurance staged a turnaround with a $41M operating profit vs. a $16M loss. Annuity margins contracted amid 4% sales growth and net outflows of $2.2B vs. $1.7B. Group Protection profits rose 11% on favorable claim experience, while Retirement Plan Services earnings surged 26% with improved net flows. We acknowledge LNC's operational turnaround progress, but the firm remains heavily exposed to equity market fluctuations without appropriate upside growth potential to justify that risk, in our view.