Story updated at 10 a.m. to reflect market activity.
Shares of Linn Co gained 2.1% to $27.48 in morning trading.
The firmest a price target of $34 for the company. UBS analysts said the upgrade was driven by a bullish outlook for natural gas, and that the sale of the Wolfcamp acreage should provide a means of high grading assets for Linn Co.
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Separately, TheStreet Ratings team rates LINNCO LLC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINNCO LLC (LNCO) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: