- The shares of Lumen Technologies Inc (NYSE: LUMN) have received a price target increase from $8 to $10 by MoffettNathanson. These are the details.
The shares of Lumen Technologies Inc (NYSE: LUMN) have received a price target increase from $8 to $10 by MoffettNathanson. MoffettNathanson analyst Nick Del Deo is maintaining a “Sell” rating on the company shares.
Del Deo noted that the company’s shares are up about 50% over the past year even though the growth trajectory for the company has not improved.
The company was helped by its position as a value name and a pullback in short selling. However, Del Deo does not find Lumen’s potential for other asset sales to be compelling and believes that the current share price ascribes additional value attributable to the fiber to the home market.
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