Market Overview

UPDATE: J.P. Morgan Initiates Linn Energy LLC with Overweight Rating on Growth Through Acquisitions

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?

In a report published Wednesday, J.P. Morgan initiated coverage on Linn Energy LLC (NASDAQ: LINE) with an Overweight rating and $43.00 price target.

J.P. Morgan noted, “LINE's primary growth strategy is to acquire and exploit oil and natural gas assets by completing accretive deals focusing on long-lived properties with well understood geologic features and relatively predictable production profiles. LINE's advantaged cost of capital and acquisition experience place the company in a strong position to competitively bid and acquire attractive properties that grow the reserve base and production levels, while creating value for LINE's shareholders. Linn's success in quickly integrating and enhancing production of acquired assets has driven an 81% increase in the distribution run-rate since its 2006 IPO.”

Linn Energy LLC closed on Tuesday at $36.41.

Posted-In: J.P. MorganAnalyst Color Initiation Analyst Ratings

 

Most Popular

Related Articles (LINE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free