Citi analyst Michael Rollins raised the firm’s price target on Lumen (LUMN) to $8 from $6.50 and keeps a Neutral rating on the shares after having updated the firm’s model incorporating Q3 results that were “generally mixed with respect to the operations.” Optionality to monetize the mass market fiber opportunity has become more important to the national wireless carriers as they increasingly compete with converged mobile-plus-broadband bundles from cable competitors, the analyst tells investors.
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Read More on LUMN:
- Lumen Technologies call volume above normal and directionally bullish
- Lumen falls -6.3%
- Lumen price target lowered to $6 from $7 at TD Cowen
- Lumen Technologies Reports Q3 2024 Financial Results
- Lumen says four new customer stories come from $8.5B in total
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
