Bank of America Reiterates Buy Rating, $38 PT on CenturyLink on Wireline Stocks
In a report published Wednesday, Bank of America analyst David W. Barden reiterated his Buy rating and $38.00 price target on CenturyLink (NYSE: CTL).
In the report, Barden noted, “We view yield-based wireline stocks as the equivalent of equity bonds, where the required return (yield) is a function of relative risk (FCF payout ratio). Within this framework, CTL screens positively among yield stories, at a 6.7% yield from a 44% 2014E payout ratio. Our PO, which has an assumed yield of 5.7%, reflects the company's improving top-line trajectory and greater-than-average dividend coverage.”
CenturyLink closed on Tuesday at $34.38.
Latest Ratings for CTL
Date | Firm | Action | From | To |
---|---|---|---|---|
Jul 2020 | Oppenheimer | Downgrades | Outperform | Perform |
Jun 2020 | UBS | Maintains | Neutral | |
May 2020 | Morgan Stanley | Maintains | Equal-Weight |
View More Analyst Ratings for CTL
View the Latest Analyst Ratings
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