Qwest Reasserts Forecasts

Qwest Communications International Inc. reaffirmed its revenue and cash-flow growth targets for 2001 and said it would file its first application to provide long-distance service in its home territory this summer. Denver-based Qwest, the No. 4 U.S. long-distance service provider, is one of the few telephone companies that has not cut its growth forecasts. Qwest said it is working to reenter the long-distance business in several states after last year’s acquisition of US West Inc., the dominant local telephone company from Minnesota to Washington. Qwest had to shed its long-distance operations in those areas to win government approval of the deal. Qwest shares rose $2.37 to close at $38.27 on the NYSE.