From Sector Outperform to Market Perform
No target prices given, but three weeks ago they had initiated it at Outperform with a target of $44.
Wonder if they figure earnings won't be so good and they are lowering their expectations in advance?
I don't know HW but they just began following LINE and have not even covered through a single earnings report. I see no reason to think they have any superior insight, and by Occam's razor I would conclude HW simply hasn't done their homework so they are adjusting their rating to the stock price.
Howard Weil Downgrades LINN Energy (LINE) to Sector Perform
9:10 AM ET, 02/15/2013 - Street Insider
Howard Weil downgraded LINN Energy (NASDAQ: LINE) from Outperform to Sector Perform with a price target of $36.00.
Of course you do not RLP'D. That is what happens when you do political posing 24/7.
Earnings reports from natural gas producers like ECA have been below 'expectations'. So the analysts are very unsure of their estimates for LINE. But the uncertainty here is the light portion of ngls and the mix of organic growth it represents.
But I am sure the OLB is worked up into a massed chattering show today.
Who knows? Doesn't say much for Weill that they're changing their mind so quickly. I'm betting that LINE moves up into the earnings report over the next couple of days and added at 36.78 to my short-term trade.