Level 3 Communications (LVLT) Tops Q2 EPS by 1c

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Go back to Level 3 Communications (LVLT) Tops Q2 EPS by 1c

Cowen Cuts Price Target to $62 on Level 3 Communications (LVLT) Following 2Q15 Results

July 30, 2015 8:58 AM EDT

Cowen maintained an Outperform rating on Level 3 Communications (NYSE: LVLT), and cut the price target to $62.00 (from $65.00), following 2Q15 results. LVLT reported revenue at $2.061B vs. the Street's $2.080BE.

Analyst Colby Synesael commented, "LVLT reported 2Q15 rev below consensus but above our estimate and EBITDA in-line with consensus ex a ~$10MM 1x benefit but above our estimate. Investor focus was on N.A.... More