Linn Energy Upgraded To 'Buy' By Bank of America

In a recent report Bank of America Merrill Lynch (BAML) noted that review of the financial outlook for Linn Energy LLC (NASDAQ:LINE) leads them to conclude the outlook and sustainability of Linn Energy LLC (NASDAQ:LINE)’s cash distributions should not carry a materially higher risk, implied by the recent collapse in the unit price. On a forward basis, BAML believse distributable cash flow will continue to cover distributions and on this basis they believe the recent sell off is overdone. A material offset is the announced informal inquiry by the SEC and uncertain impact on the outcome and timeline of the…