NEW YORK (TheStreet) -- Shares of Lincoln National Corp. (LNC) are down 0.71% to $54.37 today after Deutsche Bank downgraded the company to "hold" from "buy," but raised its price target to $62 from $60.
The holding company, which operates multiple insurance and retirement businesses through subsidiary companies, requires even further re-rating, analysts said.
"While we believe that further re-rating remains, Lincoln National's strong performance over the past year and a half suggests that the majority of upside at this time should come from earnings and book value of equity per share growth," analysts said, adding, "At the same time, we expect earnings per share growth to slow to mid-to-high single digits, limiting upside to the mid-teens--not enough on a risk-adjusted basis to continue to recommend the name at this time."
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Additionally, analysts expect fee income to slow and assets under management growth in the annuities and retirement segments to decrease.
Separately, TheStreet Ratings team rates LINCOLN NATIONAL CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINCOLN NATIONAL CORP (LNC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, revenue growth, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."