UBS has decided to maintain its Neutral rating of Lumen Technologies LUMN and lower its price target from $11.00 to $7.00.
Shares of Lumen Technologies are trading down 14.82% over the last 24 hours, at $6.00 per share.
A move to $7.00 would account for a 16.57% increase from the current share price.
About Lumen Technologies
With 450,000 route miles of fiber, including over 35,000 route miles of subsea fiber connecting Europe, Asia, and Latin America, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises. Its merger with Level 3 further shifted the company's operations toward businesses (over 70% of revenue) and away from its legacy consumer business. Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.
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