Lincoln National (LNC): What Morgan Stanley Still Sees After Trimming Its Target

With an upside potential of 30.06%, Lincoln National Corporation (NYSE:LNC) is among the 10 Best Insurance Stocks to Buy Following Q1 Earnings.

Lincoln National Corporation (NYSE:LNC) received continued support from Wall Street on May 21 when Morgan Stanley lowered its price target to $40 from $43 while maintaining an Overweight rating on the shares. Although the target was modestly reduced, the firm noted that first-quarter results across the life insurance industry were generally strong and expressed confidence that earnings momentum could persist through the remainder of 2026. Morgan Stanley highlighted favorable operating trends and improving mortality experience across the sector, factors that are expected to support profitability and strengthen the earnings outlook for companies such as Lincoln National over the longer term.

Earlier, on May 14, UBS raised its price target on Lincoln National Corporation (NYSE:LNC) to $39 from $37 while maintaining a Neutral rating following the company’s first-quarter earnings report. The updated valuation reflects the firm’s revised financial model and suggests growing confidence in Lincoln National’s ability to navigate the current operating environment. The positive adjustment also underscores the resilience of the company’s diversified business model as it continues to benefit from stabilizing industry fundamentals and disciplined capital management.

Founded in 1905 and headquartered in Radnor, Pennsylvania, Lincoln National Corporation (NYSE:LNC) is a diversified financial services company that provides a broad range of insurance, retirement, and wealth-protection products. Its offerings include life insurance, annuities, group protection solutions, and employer-sponsored retirement plans, serving individuals, families, and businesses across the United States.

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