Atlas Resource (ARP +4.3%), BreitBurn Energy (BBEP +4.8%), Atlas Energy (ATLS +3.9%) and LinnCo...


Atlas Resource (ARP +4.3%), BreitBurn Energy (BBEP +4.8%), Atlas Energy (ATLS +3.9%) and LinnCo (LNCO +7.5%) are upgraded to Outperform at Baird after last week's losses in upstream MLPs. Specific issues remain - Linn Energy's SEC inquiry and uncertainty around the Berry merger, EVEP's leverage and Utica sales disappointments - but on balance the firm sees a good opening for longs.
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  • 166649
    , contributor
    Comments (382) | Send Message
     
    What they said was for the less adventurous to just buy ARP ATLS and BBEP essentially :)))

     

    They gave

     

    08-Jul-13 08:27 ET

     

    ARP

     

    Atlas Resource Partners (ARP), Breitburn Energy (BBEP), Atlas Energy (ATLS), and LinnCo (LNCO) upgrade details - Robert W. Baird (19.69 )

     

    As mentioned earlier, Baird upgraded ARP, BBEP, ATLS, and LNCO to Outperform from Neutral. A combination of technical, fundamental andmomentum-oriented catalysts conspired to drive down upstream MLPs substantially last week. Some specific issues still remain -- the LINE SEC inquiry and uncertainty around the Berry merger, EVEP's leverage and Utica sales disappointments -- although on balance firm sees a good opening here for longs. Firm thinks the best approach for a new investor would be to buy a basket of the upstreams, while less adventurous inventors would be best served by buying the group ex-EVEP and LINE/LNCO.

     

    08:47 EDT ARP
    theflyonthewall.com: Atlas Resource Partners upgraded to Outperform from Neutral at RW Baird
    Baird upgraded shares based on valuation. Price target lowered to $26 from $27.

     

    08:47 EDT ATLS
    theflyonthewall.com: Atlas Energy upgraded to Outperform from Neutral at RW Baird
    Baird upgraded shares based on valuation. Price target remains $63.

     

    08:47 EDT BBEP
    theflyonthewall.com: BreitBurn Energy upgraded to Outperform from Neutral at RW Baird

     

    Baird upgraded shares based on valuation. Price target lowered to $21 from $23.
    8 Jul 2013, 10:05 AM Reply Like
  • TruffelPig
    , contributor
    Comments (4207) | Send Message
     
    I bought LNCO for 24 and BBEP for 15.5. I am happy :). Those are steals!
    8 Jul 2013, 09:01 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (7064) | Send Message
     
    The MLP selloff was unwarranted. Obama will not change the tax structure of MLPs. Even if he wants to, it will die in Congress.
    8 Jul 2013, 11:50 PM Reply Like
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