% | $
Quotes you view appear here for quick access.

Linn Energy, LLC Message Board

  • margretbar2 margretbar2 Nov 1, 2013 1:34 PM Flag

    Even if BRY is more expensive this is the NAV for LINE $40

    Today, the SEC officially ended its inquiry tied to the
    company's accounting practices. The stock is down 14.5%
    since the SEC announcement and with this overhang lifted we
    see shares moving higher in the near term. Importantly, the
    distraction is out of the way and management can now focus
    on growing its business and rekindling the Berry Petroleum
    (BRY:NYSE) deal.

    There is a chance that the terms will be adjusted for BRY,
    but we believe that is already discounted in the share price
    and that the company is much better off with BRY (even if it
    costs more) for earnings and distribution growth. The
    company will hold a conference call on Wednesday Nov. 6 to
    discuss its 3Q results (that were released on Monday evening
    and were better than plan) and to provide an update on BRY.
    The combined entity has an NAV of $40/share, so there's
    ample upside from here.

    After our trades we'll own 1,500 shares of LINE, or 1.5% of
    the portfolio,


    Jim Cramer, Stephanie Link, and TheStreet Research Team

    SortNewest  |  Oldest  |  Most Replied Expand all replies