Why I Think LVLT Can Take Your Portfolio to the Next Level

Let’s talk about Level 3 Communications (NYSE:LVLT).

This is a telecom survivor that saw its shares rally to $118 on Jan. 1, 2000 -- only to crumble, but hold on long enough to once again become a powerhouse.

Its niches include: data networks, content distribution, managed services, securities, voice cloud and cloud connection. In the most recent quarter, its core network services in North America were up 8%; Europe, Middle East and Africa up 5.7% and Latin America up 5.8%.

Free cash flow was $51 million from minus $9 million a year earlier, and it managed to raise full year guidance to $650 million on the top end from $600 million.

Execution is still inconsistent, but this company has its act together.  I see a potential run to $75.