CenturyLink (CTL) to Acquire Level 3 Communications (LVLT) for $34B

UBS Cuts Price Target on CenturyLink (CTL) Following 3Q and Announced Acquisition

UBS maintained a Buy rating on CenturyLink, Inc. (NYSE: CTL), and cut the price target to $31.00 (from $36.00), following the company's 3Q and announced acquisition of LVLT for $66.50/sh. UBS estimates that this deal would finally bring CTL's top line to stability while synergies... More

RBC Capital Downgrades Level 3 Communications (LVLT) to Sector Perform

RBC Capital downgraded Level 3 Communications (NYSE: LVLT) from Outperform to Sector Perform.

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 $56.15 yesterday.

Goldman Sachs Downgrades Level 3 Communications (LVLT) to Neutral

Goldman Sachs downgraded Level 3 Communications (NYSE: LVLT) from Buy to Neutral.

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 $56.15 yesterday.

Jefferies Downgrades Level 3 Communications (LVLT) to Hold; Doesn't See Alternative Bidder

Jefferies downgraded Level 3 Communications (NYSE: LVLT) from Buy to Hold with a price target of $55.00 (from $58.00) after the company agreed to be acquired.

"While the deal spread of near 15% (excl. CTL dividend) is sizable, we do not anticipate any alternate bidder and remain... More

Cowen Downgrades Level 3 Communications (LVLT) to Market Perform

Cowen downgraded Level 3 Communications (NYSE: LVLT) from Outperform to Market Perform.

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 $54.05 yesterday.

BTIG Downgrades Level 3 Communications (LVLT) to Neutral

BTIG downgraded Level 3 Communications (NYSE: LVLT) from Buy to Neutral. Analyst Walter Piecyk said he doesn't expect at competing bid.

"We downgrade Level 3 to Neutral as we do not expect a competing bid to top CenturyLinks lofty take-out price, which valued Level 3 at... More

Level 3 Communications (LVLT) Misses Q3 EPS by 3c

Level 3 Communications (NYSE: LVLT) reported Q3 EPS of $0.40, $0.03 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $2.03 billion versus the consensus estimate of $2.07 billion.

For earnings history and earnings-related data on Level 3 Communications (LVLT) click here.

CenturyLink (CTL) Tops Q3 EPS by 1c

CenturyLink (NYSE: CTL) reported Q3 EPS of $0.56, $0.01 better than the analyst estimate of $0.55. Revenue for the quarter came in at $4.38 billion versus the consensus estimate of $4.38 billion.

GUIDANCE:

CenturyLink sees Q4 2016 EPS of $0.53-$0.59, versus the consensus of $0.64. CenturyLink sees Q4... More