RBC Remains Bullish on Linn Energy Following Call with Mgmt

RBC analyst John Ragozzino reiterated his Outperform rating and $47 price target on shares of

Friday morning. The reiteration follows a call with Linn's senior managers. Ragozzino believes the stock has significant upside, placing a best-case scenario price target around $55. Linn remains confident in the strength of its distribution coverage, Ragozzino said. He noted the company expects to close a deal with

in Q3. Linn shares are down 0.3 percent to $33.20 at last check. Ragozzino's $47 price target represents potential upside of about 42 percent.