Analyst Gregory Williams of TD Cowen reiterated a Hold rating on Lumen Technologies, retaining the price target of $8.00.
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Gregory Williams has given his Hold rating due to a combination of factors tied to Lumen’s long‑term outlook and current execution risks. While management articulated a clearer strategic vision, expanded on its digital transformation, and detailed the role of NaaS and PCF in future growth, the company still offered only directional guidance rather than firm financial targets, leaving substantial uncertainty around the path to sustainable improvement.
Williams notes that bankruptcy fears have eased and his long‑term free cash flow framework of roughly $500 million beyond 2029 remains intact, supporting his $8 price target. However, the turnaround depends on a distant 2028 business revenue inflection, and visibility into outer‑year cash generation is limited, making it difficult to justify a more constructive stance at this stage, even as the modest 2027 revenue decline target represents an important milestone to watch.
In another report released yesterday, TipRanks – Google also reiterated a Hold rating on the stock with a $8.00 price target.