Fintel reports that on June 6, 2023, Raymond James upgraded their outlook for Lumen Technologies (NYSE:LUMN) from Underperform to Market Perform .
Analyst Price Forecast Suggests 83.32% Upside
As of June 2, 2023, the average one-year price target for Lumen Technologies is 3.30. The forecasts range from a low of 2.02 to a high of $5.25. The average price target represents an increase of 83.32% from its latest reported closing price of 1.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lumen Technologies is 15,033MM, a decrease of 9.11%. The projected annual non-GAAP EPS is 0.76.
What is the Fund Sentiment?
There are 1297 funds or institutions reporting positions in Lumen Technologies. This is a decrease of 128 owner(s) or 8.98% in the last quarter. Average portfolio weight of all funds dedicated to LUMN is 0.11%, a decrease of 34.47%. Total shares owned by institutions decreased in the last three months by 8.58% to 828,945K shares. 
The put/call ratio of LUMN is 1.10, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 47,061K shares representing 4.69% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 32,238K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 31,458K shares, representing an increase of 2.42%. The firm decreased its portfolio allocation in LUMN by 51.96% over the last quarter.
Southeastern Asset Management holds 32,090K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 39,886K shares, representing a decrease of 24.29%. The firm decreased its portfolio allocation in LUMN by 60.60% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 27,094K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 13,335K shares, representing an increase of 50.78%. The firm decreased its portfolio allocation in LUMN by 1.00% over the last quarter.
First Trust Advisors holds 26,624K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 17,817K shares, representing an increase of 33.08%. The firm decreased its portfolio allocation in LUMN by 26.55% over the last quarter.
Lumen Technologies Background Information
(This description is provided by the company.)
Lumen is guided by its belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fiber miles and serving customers in more than 60 countries, it delivers the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
