Level 3 Communications (LVLT: sentiment, chart, options) was slapped with a bearish brokerage initiation today, as Stanford Research started coverage of the shares with a "sell" rating. Stanford is hardly original in taking a skeptical stance toward LVLT; Zacks reports 4 "holds" and 6 "sell" or worse ratings, compared to just 2 "buys."

The stock's poor price action justifies Wall Street's bearish tone. LVLT has been wallowing below $1 per share since early November, having shed 76.7% year-to-date. In fact, the security could still garner more pessimistic notes from analysts. Its average 12-month price target is $1.53, a premium of 115.5% to Thursday's closing price.

At last check, LVLT was down 1.2% at 70 cents per share.