UPDATE: D.A. Davidson Raises PT on Level 3 Communications Following Model Update

In a report published Friday, D.A. Davidson analyst Donna Jaegers reiterated a Neutral rating on Level 3 Communications (NYSE: LVLT ), and raised the price target from $23.50 to $25.50. In the report, D.A. Davidson noted, “On August 29th, LVLT announced a 6.5% global headcount reduction that equates to almost