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Fly News Breaks for October 28, 2016
LVLT, CTL
Oct 28, 2016 | 09:09 EDT
UBS analyst Batya Levi noted media reports the CenturyLink (CTL) is in advanced talks to merge with Level 3 (LVLT). The analyst said their overlapping infrastructure would yield more than $1B in synergies and would enhance CenturyLink's mix of Enterprise assets. Levi also noted Level 3 would provide sizable NOL's and generates growing free cash flow. Levi reiterated a Buy rating and $36 price target on CenturyLink shares.
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