Goldman Sachs Starts Level 3 Communications (LVLT) at Buy, Sees 49% Upside

August 10, 2012 8:01 AM EDT
Get Alerts LVLT Hot Sheet
Price: $58.89 --0%

Rating Summary:
    15 Buy, 13 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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Goldman Sachs reinstates coverage on Level 3 Communications (NYSE: LVLT) with a Buy rating and $30 price target, suggesting 49% upside.

"While we have not favored investment in LVLT in the past, the GLBC deal improved LVLT's balance sheet and places the company on a path to sustainable FCF for the first time in its history," the analyst comments. "With the inflection nearing, we want investors to be positioned ahead of this event."

In addition, the market is underestimating the company's growth potential as it is well positioned to take market share.

For an analyst ratings summary and ratings history on Level 3 Communications click here. For more ratings news on Level 3 Communications click here.

Shares of Level 3 Communications closed at $20.18 yesterday.

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