UPDATE: Citigroup Reiterates Buy Rating, Lowers PT on CenturyLink
In a report published Wednesday, Citigroup reiterated its Buy rating on CenturyLink (NYSE: CTL), but lowered its price target from $46.00 to $43.00.
Citigroup noted, “We rate CTL Buy/High Risk (1H) partly based on the solid FCF support for the current dividend, & retaining financial flexibility to more quickly stabilize revenue over the next few years from organic investments & possible acquisitions. We believe CTL is likely to be a net buyer of metro-fiber assets over the next 6-18 months & a net seller of its wireless spectrum assets.”
CenturyLink closed on Monday at $38.74.
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