A JP Morgan (NYSE:JPM) analyst weighed in on the likelihood of a Safeway (NYSE:SWY) leveraged buyout saying the company’s pension and recently added debt make it less likely.The stock has pared opening gains after Ken Goldman’s comments circulated.Safeway’s recent moves may indicate a higher likelihood of Reverses Morris Trust (RHT) than a LBO, but wasn’t certain RHT was even likely.Earlier, Safeway was trading almost 5% higher. The company has a market cap of $5.74 billion.JP Morgan had previously thought the company could be considering corporate action such as an LBO or RMT.