UPDATE: Oppenheimer Upgrades Level 3 Communications (LVLT) to Outperform
Get Alerts LVLT Hot Sheet
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Join SI Premium – FREE
Oppenheimer upgraded Level 3 Communications (NYSE: LVLT) from Perform to Outperform with a price target of $60. Analyst Timothy Horan thinks a deal with CenturyLink (NYSE: CTL) would be attractive.
"LVLT has restructured itself in the last few years and now has operational/financial flexibility on FCF, and we see accelerating growth in 2017. We also view a possible merger of CTL/LVLT (reported by The WSJ) as a powerful combination/see synergies between $1B and $2B and FCF accretion over 30% in the next three years. We believe CTL will be the surviving company and see LVLT shareholders receiving a premium but also sharing in synergies and value creation. We recognize the downside risk of a deal not materializing, but believe LVLT's FCF profile/flexibility supports a $60/share valuation," said Horan.
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 $51.87 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
- Boston Beer Company (SAM) PT Lowered to $310 at Evercore ISI
- HSBC Upgrades Topdanmark (TOP:DC) (TPDKY) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, UpgradesRelated Entities
Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!