Market Overview

UPDATE: Morgan Stanley Downgrades Level 3 Communications on Balanced Risk-Reward

Share:
Related LVLT
Telecom Stock Roundup: T-Mobile, Sprint, CenturyLink And More
Wall Street's M&A Chatter From October 2: CenturyLink-Level 3, Unilever-Mae Terras, Dimension-Ultragenyx

In a report published Friday, Morgan Stanley analyst Simon Flannery downgraded the rating on Level 3 Communications (NYSE: LVLT) from Overweight to Equal-Weight, and removed the $28.00 price target.

In the report, Morgan Stanley noted, “We are downgrading Level 3 from Overweight to Equal-weight after strong stock price appreciation which leaves only 2.5% upside to our base case valuation of $28. At current levels we believe the risk reward is balanced. Our estimates and valuation remain unchanged.”

Level 3 Communications closed on Thursday at $27.31.

Latest Ratings for LVLT

DateFirmActionFromTo
Oct 2017BarclaysMaintainsEqual-Weight
May 2017Raymond JamesDowngradesMarket PerformUnderperform
Mar 2017Morgan StanleyReinstatesEqual-Weight

View More Analyst Ratings for LVLT
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Simon FlanneryAnalyst Color Downgrades Analyst Ratings

 

Related Articles (LVLT)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...