LEVEL 3 (LVLT)

[Prudent Capitalist]

S&P reaffirms BUY rating and $60 price target. With regard to projected $1 Billion in free cash flow in 2016, CEO states that although cash will be returned to shareholders at some point, LVLT is a "growth company" and that acquisitions to grow its network and market share will take precedence over dividends. In that regard, the CEO also notes that much of LVLT's debt, including debt from the Global Crossing and TW Telecom acquisitions, has already been paid down. All great stuff here on top of the great earnings report and guidance.