SunTrust analyst Greg Miller initiated coverage of communication companies including CenturyLink Inc., Level 3 Communications Inc., Zayo Group Holdings Inc. and Cogent Communications Holdings Inc., TheFly.com reported Dec. 13.

Miller initiated coverage of Zayo at "buy" rating with a $39 price target, while CenturyLink's coverage was started with a "hold" rating and a $27 price target. The analyst also initiated coverage of Level 3 with a "hold" rating and a $62 price target.

Further, Cogent's coverage was started at "buy" with a $43 price target.

On CenturyLink, Miller believes the company could face difficulty in integrating Level 3 after the deal closes.