UBS Maintains a 'Neutral' on Level 3 Communications (LVLT); Lowering PT & Estimates on Macro Concerns

UBS maintains a 'Neutral' on Level 3 Communications (NASDAQ: LVLT) price target lowered from $2.50 to $1.80.

UBS analyst says, "On track to close Global Crossing (Nasdaq: GLBC) deal by YE11...Businesses still pulling back on spending...We have tweaked revenue growth, capex and margin assumptions to reflect the tougher competitive environment and investments/hiring Level 3 may need to make to keep provisioning intervals where they are. This is key to keeping customer churn under control as the merger integration process begins. Given the changes to our model, 2012E EPS falls to -$0.30 from - $.0.27 while 2013E goes to -$0.24 from -$0.19."

For more ratings news on Level 3 Communications click here and for the rating history of Level 3 Communications click here.

Shares of Level 3 Communications closed at $1.56 yesterday.

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