Every day, the sun rises on Wall Street, and a plethora of professional analysts wake to issue new opinions on stocks. Here at the Fool, we use our "This Just In" column to examine some of these picks -- and the track record of the firm behind them -- so that you can make better investing decisions.

In addition to following professional analysts, anyone can use Motley Fool CAPS to monitor the collective opinions of more than 105,000 investors, many of whom demonstrate better investing insight than published analysts do.

Enough top-performing CAPS investors have turned bullish on Level 3 Communications (NASDAQ:LVLT) recently to upgrade it from its three-star rank to a more admirable four stars. Nearly 1,800 investors have weighed in with an opinion on Level 3, with many of them including analysis and commentary explaining recent optimism.

Level 3 holds an admirable customer list -- top U.S. telecoms Verizon (NYSE:VZ) and AT&T (NYSE:T) are counted as clients, as are IBM (NYSE:IBM), Time Warner (NYSE:TWX), and even Russia's VimpelCom (NYSE:VIP). But a deep, global customer list hasn't helped the company break a continuing string of net losses over the past nine years. The stock has suffered, too -- in the late 1990s, Level 3 actually reached a price nearly 30 times its level today.

But judging Level 3 by where it stands today -- and not its past -- investors see new hope for growth. In its most recent quarter, the company posted a smaller loss than a year earlier as demand for Web-based video increased. That may have missed the mark, but revenue was stronger than expected, and the company reiterated its outlook for 2008.

The "no bad news is good news" mind-set took hold firmly with analysts and investors, and Level 3 stock has been showing strong momentum lately. With increased capabilities in delivering video content by working with Adobe (NASDAQ:ADBE) to integrate the Adobe Flash Media Server 3 into Level 3’s content delivery infrastructure, investors in general are more bullish about Level 3. Indeed, more than 94% of the 1,798 investors rating the company in CAPS have voted for Level 3 to outperform the market.

To see what the very best CAPS analysts are saying now about Level 3 -- as well as other winning stocks they are picking -- head over to CAPS and have a look. The community research and resources in CAPS are totally free, unlike analyst opinions reserved for paying clients.

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