Level 3 Communications (NYSE:LVLT) : 16 analysts are covering Level 3 Communications (NYSE:LVLT) and their average rating on the stock is 1.75, which is read as a Buy. 9 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Level 3 Communications (NYSE:LVLT) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Level 3 Communications (NYSE:LVLT) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $68 and the lowest price target forecast is $53. The average forecast of all the analysts is $60.67 and the expected standard deviation is $5.07.
For the current week, the company shares have a recommendation consensus of Buy. Also, In a research note released to the investors, Bank of America downgrades its rating on Level 3 Communications (NYSE:LVLT).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on April 29, 2016.
Level 3 Communications (NYSE:LVLT): stock turned positive on Tuesday. Though the stock opened at $48.02, the bulls momentum made the stock top out at $49.18 level for the day. The stock recorded a low of $47.8 and closed the trading day at $49.1, in the green by 3.52%. The total traded volume for the day was 2,705,700. The stock had closed at $47.43 in the previous days trading.
In an insider trading activity, The Securities and Exchange Commission has divulged that Storey Jeffrey K, officer (President and CEO) of Level 3 Communications Inc, had unloaded 20,000 shares at an average price of $53.38 in a transaction dated on June 1, 2016. The total value of the transaction was worth $1,067,600.
Level 3 Communications, Inc. is a provider of a range of integrated communications services. The Companys operating segments include North America includes operations in Georgia, Colorado, Florida, Canada, New York, Arizona, Pennsylvania, Michigan and Oklahoma; Europe includes operations in England, Ireland, The Netherlands and France; The Latin America includes operations in Colombia, Argentina, Venezuela, Peru, Ecuador, Chile and Brazil. The Asia or Pacific includes operations in China, Singapore and Japan. The tw telecom inc. (tw telecom) is an indirect, wholly owned subsidiary of the Company. The Company offers services, which includes core network services and wholesale voice services. It offers products, which include core network services, including transport and fiber services, colocation and data center services, IP and data services, managed services, cloud and IT services, voice services and wholesale voice services, including voice termination and toll free.