Morgan Stanley Feels Confident in CenturyLink Following Strong Results Across the Board

In a report published Thursday, Morgan Stanley analyst Simon Flannery reiterated an Overweight rating and $37.00 price target on

. In the report, Morgan Stanley noted, “Strong results across the board, with top-line beat driven by business and wholesale. FY14 guidance suggests moderating revenue decline. The company is aggressively buying back stock, supporting the payout ratio. With improving fundamentals, strong FCF and a 7.2% div. yield, we reiterate OW.” CenturyLink closed on Wednesday at $30.19.