UPDATE: J.P. Morgan Downgrades LinnCo to Neutral, Lowers PT Following Informal SEC Inquiry Disclosure
In a report published Tuesday, J.P. Morgan analyst Alistair J Meadows downgraded the rating on LinnCo LLC (NASDAQ: LNCO) from Overweight to Neutral, and lowered the price target from $43.00 to $35.00.
In the report, J.P. Morgan noted, “We lower our rating on LNCO to Neutral following the disclosure of the informal SEC inquiry. Although Linn's acquisitions, totaling nearly $10bn before BRY, have driven distribution growth of ~81% since IPO, we believe there could be significant volatility in the LNCO unit price until the resolution of the SEC inquiry and the impact on the BRY transaction is known. As a result, we recommend investors wait on the sidelines until the dust settles.”
LinnCo LLC closed on Monday at $37.07.
Latest Ratings for LNCO
|Apr 2015||JP Morgan||Maintains||Neutral|
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