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.
Latest Ratings for CTL
|Nov 2014||DA Davidson||Maintains||Underperform|
|Nov 2014||JP Morgan||Maintains||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.