Lumen price target raised to $5 from $4.50 at Raymond James

Raymond James raised the firm’s price target on Lumen (LUMN) to $5 from $4.50 and keeps an Outperform rating on the shares. Lumen continues to move ahead with a series of small victories, adding in new deals on the private connectivity fabric structures for the AI long haul builds, and raising guidance, the analyst tells investors in a research note. While they may not win every ancillary adjacent route, Lumen has a “preferred seat at the table” when their AI partners look to expand off their fiber duct lease, Raymond James argues.