Level 3 Communications (LVLT) was upgraded two levels at Bear Stearns this morning, all the way to outperform.
Analyst Steven Randall said that the consolidation in the industry was "improving the operating environment" and that he liked the management and M&A strategy. He added that the were no liquidity issues on the horizon for Level 3.
Pretty much what we said about Level 3 awhile back.
Douglas McIntyre is the former Editor-in-Chief and Publisher of Financial World Magazine. He does not own securities in companies he writes about.