Citi Research Upgrades Level 3 Communications

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On Monday, analysts at Citi Research upgraded shares of Level 3 Communications Inc. LVLT from Neutral to Buy and raised the price target from $44 to $55.

Michael Rollins finds the company has improving revenue growth prospects and margin expansion should continue.

Rollins stated, “We are upgrading to a Buy rating based on the prospects to improve organic revenue growth with an increasing focus on the enterprise segment, improve cash flow generation from merger-related savings from TWTC, & benefit from multiple expansion as metro-fiber assets become strategically more attractive within the industry.”

Shares of Level 3 recently traded at $46.31 down 0.77 percent.

Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsAlternative CarriersTelecommunication Services
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