TD Cowen Raises Lumen (LUMN) Price Target, Keeps Hold Rating

Lumen Technologies, Inc. (NYSE:LUMN) is one of the 10 Best Single Digit Stocks to Buy Right Now. On May 6, TD Cowen increased its price target on Lumen Technologies, Inc. (NYSE:LUMN) from $8 to $9 and maintained its Hold rating on the stock.

The research firm noted that the company reported better-than-expected Q1 2026 results, especially in EBITDA, supported by solid performance in its Public Sector business and $32 million in one-time PCF milestone payments.

TD Cowen Raises Lumen (LUMN) Price Target, Keeps Hold Rating

Lumen Technologies, Inc. (NYSE:LUMN) reported Q1 PCF revenue reached $78 million, tied to nearly $13 billion in PCF deals that the company has already announced. This included the one-time PCF milestone payment of $32 million, which will not repeat in the second quarter. The company also said its long-term PCF revenue outlook does not include any additional PCF deals beyond those already announced.

Additionally, Lumen Technologies, Inc. (NYSE:LUMN) announced an agreement to acquire Alkira, a cloud-native, carrier-agnostic networking platform that allows enterprises to design, deploy, and operate connectivity and network services across hybrid and multi-cloud environments.

The deal will combine Alkira’s cloud-native data and control plane with Lumen Technologies, Inc.’s (NYSE:LUMN) fiber network. This will advance the company’s digital platform strategy to offer cloud-like consumption for global enterprise networking.

Lumen Technologies, Inc. (NYSE:LUMN) is an American telecommunications and technology company that offers networking, edge cloud, collaboration, and cybersecurity solutions.

While we acknowledge the risk and potential of LUMN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LUMN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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