Lumen Stock on Track for Lowest Close Since 1991 as Analyst Cites Risks to Dividend

Lumen Technologies

shares tumbled Wednesday after an analyst at Wells Fargo cited concerns over risks to the telecommunication company’s dividend.

Wells Fargo analyst Eric Luebchow downgraded shares of Lumen (ticker: LUMN) to Equal Weight from Overweight and cut his12-month price target to $8 from $12.50.