Lumen Technologies (NYSE:LUMN) Price Target Lowered to $7.25 at The Goldman Sachs Group

The Goldman Sachs Group has lowered its price target for Lumen Technologies (NYSE:LUMN) to $7.25 from $8.50, while maintaining a "neutral" rating, indicating an 18.4% potential upside. This adjustment comes despite Lumen beating Q2 earnings expectations with a narrower loss and higher revenue than anticipated, driven by strategic revenue growth in digital, cloud, and AI networking services. However, concerns remain as the company's overall revenue declined year-over-year due to a contraction in its legacy business, and it continues to face a cautious analyst consensus.