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Technology Stocks : (LVLT) - Level 3 Communications
LVLT 53.630.0%Nov 1 5:00 PM EST

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From: bob zagorin1/11/2007 10:50:53 PM
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UPDATE 1-RESEARCH ALERT-Credit Suisse initiates Level 3

(Adds details)

Jan 11 (Reuters) - Credit Suisse started coverage of Level 3 Communications Inc. with an "outperform" rating and a price target of $7.50.

The telecommunications service provider's performance, highly dependent on long-haul pricing and demand, will continue to see strong demand driven by higher data usage, Credit Suisse's research summary said.

Level 3's integration of recently acquired firms will yield substantial synergies resulting in margin expansion and aid in achieving positive free cash flow, the investment bank added. (Reporting by Sreerupa Mitra in Bangalore)
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