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Fly News Breaks for December 13, 2016
LVLT
Dec 13, 2016 | 07:18 EDT
As noted earlier, SunTrust initiated coverage of Level 3 (LVLT) with a Hold rating and a $62 price target. Analyst Greg Miller says that it will take the company at least a couple of quarters to solve the difficulties facing its CNS unit. The analyst thinks that the latter difficulties would have limited the stock's appreciation in the near-term if CenturyLink (CTL) hadn't made a takeover bid for it. He expects Level 3's stock to rise as the 3Q17 closing date approaches.
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