UPDATE: Morgan Stanley Reiterates on CenturyLink on 4Q13 Preview

In a report published Tuesday, Morgan Stanley analyst Simon Flannery reiterated an Overweight rating on

, but lowered the price target from $40.00 to $37.00. In the report, Morgan Stanley noted, “After the recent sell-off, investors will be watching 2014 guidance closely. Color on data hosting, which has not met expectations and enterprise, with mixed 4Q results from telco so far, will be in focus along with buybacks and use of excess FY14 FCF. We lower PT to $37 from $40, remain OW.” CenturyLink closed on Monday at $28.92.