02:15 PM EDT, 05/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $0.50, applying an EV/EBITDA multiple of 4.4x to our 2024 estimate, a discount to its 10-year historical average multiple at 5.2x, reflecting our slow growth outlook and its weak balance sheet. We keep our 2024 loss estimate at -$0.05 and move our 2025 loss estimate to -$0.08 from $0.00. LUMN reported a Q1 operating loss of -$0.04 vs. EPS of $0.10, $0.08 below the consensus. Q1 revenue declined 12%, driven by an 11.3% drop in Wholesale, a 65.2% decline in International and Other revenue due to the divestiture of its EMEA business, and a 5.8% drop in Large Enterprise revenue. While LUMN completed its TSA transaction to restructure $15 billion in debt, we believe this did nothing more than kick the can down the road as its core business is still struggling with no sign of a possible turnaround any time soon.