Jackson Financial price target raised to $55 from $46 at Jefferies

Jefferies analyst Suneet Kamath raised the firm’s price target on Jackson Financial (JXN) to $55 from $46 and keeps a Buy rating on the shares after updating EPS estimates following weeks 2-3 of "the never-ending 4Q:22 earnings season." Jackson remains "a priority name" as its valuation doesn’t reflect the firm’s expectation for year-end capital levels to be above peers, said Jefferies, which expects that the company will be "more vocal" on sustainable capital return. The firm is recommending a Jackson over Lincoln National (LNC) pair trade, given its added view that Lincoln’s free cash flow challenges are not appropriately discounted in its valuation.