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Fly News Breaks for February 5, 2016
LVLT
Feb 5, 2016 | 07:14 EDT
Stephens analyst Barry McCarver upgraded Level 3 to Overweight from Equal Weight citing the company's better than expected Q4 adjusted EBITDA and the recent pullback in the stock. As bandwidth needs increase and the company takes share, McCarver expects revenue growth, a further decline in Level 3's net leverage ratio and expansion in its margin. The analyst raised his price target on the stock to $63 from $52.
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