Analyst Price Target Update on Level 3 Communications (NYSE:LVLT)

Level 3 Communications (NYSE:LVLT): 9 analysts have set the short term price target of Level 3 Communications (NYSE:LVLT) at $60.67. The standard deviation of short term price target has been estimated at $5.07, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 68 and $53 respectively.

Many analysts have stated their opinion on the company shares. Bank of America downgrades its view on Level 3 Communications (NYSE:LVLT) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Buy. The rating by the firm was issued on April 29, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, Storey Jeffrey K, officer (President and CEO) of Level 3 Communications Inc, unloaded 20,000 shares at an average price of $53.38 on June 1, 2016. The total amount of the transaction was worth $1,067,600, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Level 3 Communications (NYSE:LVLT) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.96 points or 1.84% at $51.31 with 1,452,259 shares getting traded. Post opening the session at $52.01, the shares hit an intraday low of $51.3 and an intraday high of $52.39 and the price was in this range throughout the day. The company has a market cap of $18,366 million and the number of outstanding shares have been calculated to be 357,932,840 shares. The 52-week high of Level 3 Communications (NYSE:LVLT) is $56.11 and the 52-week low is $40.86.

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.

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