Will Lincoln National (LNC) Restart Share Buyback in 2026?

Core Viewpoint - Lincoln National Corporation (NYSE:LNC) is currently viewed as an extreme value stock, with mixed ratings from analysts, indicating differing perspectives on its investment potential [1][2]. Analyst Ratings - J.P. Morgan analyst Jimmy Bhullar has reiterated a Sell rating on Lincoln National Corporation with a price target of $42 [1]. - Conversely, Wells Fargo upgraded Lincoln National from Equal Weight to Overweight, raising its price target from $41 to $48, suggesting a potential upside of 45% from current levels [2]. Financial Outlook - Wells Fargo noted that Lincoln National's business momentum is strengthening, driven by higher free cash flows, increased capital returns to shareholders, and ongoing deleveraging [2][3]. - The firm anticipates that Lincoln National will restart share repurchases in 2026, with an expected acceleration in buybacks in 2027 and 2028 [3]. Company Background - Lincoln National Corporation, based in Radnor, Pennsylvania, was founded in 1968 and provides insurance and retirement policies through its subsidiaries [3].