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Linn Energy, LLC Message Board

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  • jrad52 jrad52 Nov 21, 2012 10:19 AM Flag

    Five New Ratings, Three Neutrals, One Downgrade, Two Outperform

    I don't think you can call the the Credit Suisse report a downgrade. Their rating went from Restricted to Neutral. LINE has been rated Restricted by CS for a while. It's been a while since they had LINE at Outperform. And they've had a $ 40 price target throughout November, at least.

    And CS also came out with a similar rating on LNCO, which is what I own. They made a big mistake about taxation of LINE. I think that mistake overstated the appropriate LNCO/LINE discount.

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    • I also see Goldman's PT at $47, yet they rate it Neutral. a 20% price jump from here, yet a Neutral. I wonder what they expect an "ouperform" to rise?

    • What does "Restricted" Mean, in CS-ese?
      When I see a target price reduction, to me that's a downgrade...but that's jusrt me.

      • 1 Reply to rlp2451
      • Credit Suisse was one of the brokers involved in the LNCO offering. So during what used to be called the quiet period - about a month after the transaction, they aren't supposed to be touting the stock. And since LNCO is basically a derivative of LINE, CS went silent on LINE also. So it's been on their restricted list for about a month now. Probably true for the other non-lead brokers on the LNCO deal, which is why you would expect to see ratings coming out about now.

        Have a good Thanksgiving.

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