Canaccord Genuity Maintains a 'Hold' on Level 3 Communications (LVLT); Mixed Results, with a Side of Challenges
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Price: $53.63 --0%
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Level 3 Communications (NASDAQ: LVLT) price target of $25.50.
Analyst, Greg Miller, said, "With a sloppy 1Q12 report (expected) that produced lower than expected EBTIDA (adj. for integration expense) and cash flow, we continue to believe the risk is high for investor disappointment later this year. Although we continue to believe that synergies targets for Global Crossing can be achieved, we note that such achievements have historically yielded no value to existing shareholders beyond the equity dilutive deleveraging exercise. In fact, as we have consistently identified, Level 3 stock has consistently underperformed in the periods following most of their major acquisitions. We have no reason to expect the Global Crossing acquisition will be different."
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 $1.55 yesterday.
Analyst, Greg Miller, said, "With a sloppy 1Q12 report (expected) that produced lower than expected EBTIDA (adj. for integration expense) and cash flow, we continue to believe the risk is high for investor disappointment later this year. Although we continue to believe that synergies targets for Global Crossing can be achieved, we note that such achievements have historically yielded no value to existing shareholders beyond the equity dilutive deleveraging exercise. In fact, as we have consistently identified, Level 3 stock has consistently underperformed in the periods following most of their major acquisitions. We have no reason to expect the Global Crossing acquisition will be different."
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 $1.55 yesterday.
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