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Level 3 Communications (NYSE:LVLT)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group in a research report issued on Wednesday. They currently have a $55.00 target price on the stock, up from their previous target price of $50.00. Jefferies Group’s price objective indicates a potential upside of 21.39% from the company’s current price.

A number of other firms have also recently commented on LVLT. Analysts at DA Davidson downgraded shares of Level 3 Communications from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $50.00 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Level 3 Communications from $50.00 to $55.00 in a research note on Wednesday. Finally, analysts at Zacks downgraded shares of Level 3 Communications from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $47.60 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Level 3 Communications presently has a consensus rating of “Hold” and a consensus target price of $45.56.

Level 3 Communications (NYSE:LVLT) traded down 1.88% during mid-day trading on Wednesday, hitting $45.31. 3,018,753 shares of the company’s stock traded hands. Level 3 Communications has a 52-week low of $20.80 and a 52-week high of $49.22. The stock has a 50-day moving average of $44.54 and a 200-day moving average of $40.18. The company has a market cap of $10.755 billion and a P/E ratio of 128.99.

Level 3 Communications (NYSE:LVLT) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.31 by $0.10. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that Level 3 Communications will post $1.49 earnings per share for the current fiscal year.

Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.

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