Barclays Maintains an 'Overweight' on LINN Energy (LINE); First Quarter Update

Barclays maintains an 'Overweight' on LINN Energy (NASDAQ: LINE), PT $45.

Barclays analyst says, "We believe LINE has assembled a large inventory of liquids projects that could support visible distribution growth over the next several years...We are revising our FY11 EBITDA/DCF per unit estimates to $5.65/$3.55 from $5.30/$3.40 and our FY12 EBITDA/DCF per unit estimates to $5.90/$3.75 from $5.80/$3.90. Our current distributable cash flow estimates imply coverage ratios of 1.3x in 2011 and 1.4x in 2012 based on the current annualized distribution of $2.64. Assuming a 10% increase in the distribution to $2.90 per unit, we estimate the company would still be able to maintain a coverage ratio of 1.3x in 2012."

For more ratings news on LINN Energy click here and for the rating history of LINN Energy click here.

Shares of LINN Energy closed at $40.38 yesterday.

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