Market Overview

UPDATE: Citigroup Cuts PT to $42 on Linn Energy on Natural Gas Pricing

Related LINE
Market Wrap For April 4: Dow Suffers Triple Digit Point Loss, Nasdaq Continues To Underperform
Market Wrap For March 24: Markets On Two-Day Losing Streak?

Citigroup reiterated Linn Energy (NASDAQ: LINE) at Buy but lowered the price target from $43.00 to $42.00.

Citigroup noted, "We are lowering our distributable cash flow estimates for 2012, 2013 and 2014 by $0.02, $0.08 and $0.05 to $4.98, $5.26 and $5.25 per unit, respectively. The change to our estimates primarily reflects the downward adjustment to our assumption for natural gas prices. Our DCF estimates imply capex adjusted coverage ratio of 1.14x, 1.14x and 1.07x in 2012, 2013 and 2014 for the total units outstanding, respectively (i.e. payout ratio of 88%, 88% and 94%, respectively)."

Linn Energy closed at $37.06 on Tuesday.

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (LINE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free