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Fly News Breaks for July 28, 2016
LVLT
Jul 28, 2016 | 07:59 EDT
Cowen said they continue to believe Level 3 has an opportunity to create significant shareholder value following mixed Q2 results. The firm expects the company to return capital to investors in 2017 and believes it is important for management to not allow leverage to fall too much. If there is no stock buyback they should do an M&A transaction, said Cowen, which reiterated its Outperform rating and $60 price target on Level 3 shares.
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