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D.A. Davidson Raises CentruyLink Price Target on 'Better Than Expected Results'

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Following the release of the company's second quarter earnings report after the close on Wednesday, DA Davidson analyst Donna Jaegers reiterated an Underperform rating on CenturyLink (NYSE: CTL) and raised the price target from $30 to $38.

CenturyLink posted a consensus beat on the top-line and a D.A. Davidson estimate beat on the bottom-line. However, Jaegers has concerns moving forward as the company begins its Gigabit expansion.

Jaegers wrote, "We don't see tremendous downside in the stock, but still think CenturyLink may raise its capex budget more in 2015 as it rolls out Gigabit speeds in more cities, and we may see more of a drag in EBITDA in 2015 due to higher IPTV marketing expenses."

Latest Ratings for CTL

DateFirmActionFromTo
Nov 2019MaintainsOutperform
Nov 2019DowngradesNeutralSell
Aug 2019DowngradesNeutralUnderweight

View More Analyst Ratings for CTL
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Donna JaegersAnalyst Color Price Target Reiteration Analyst Ratings

 

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