Goldman Sachs Initiates Level 3 Communications With Buy

Goldman Sachs initiated coverage on Level 3 Communications, Inc. LVLT with a Buy rating. The target price for Level 3 Communications is set to $67. Level 3 Communications shares have gained 28.85 percent over the past 52 weeks, while the S&P 500 index has surged 10.60 percent in the same period. Level 3 Communications' shares climbed 2.14 percent to close at $55.92 yesterday.