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CenturyLink, Inc. Message Board

  • sempar_grumpy sempar_grumpy Feb 14, 2013 11:38 AM Flag

    JPMorgan Chase downgrade - $38 PT

    CenturyLink was downgraded by analysts at JPMorgan Chase from an overweight rating to a neutral rating. The firm currently has $38.00 price target on the stock, down from their previous price target of $45.00. The analysts wrote, “We downgrade shares of CenturyLink from Overweight to Neutral following the company’s revision of its capital allocation strategy, which included a ~25% dividend cut from $0.725/share to $0.54/share, as well as a new $2b share repurchase program to be completed over the next 2 years. While we believe the revised plan gives the company more flexibility to improve the fundamentals of the business in the near to medium term, we believe there is limited upside for the stock even from after hours trading levels off ~13%. We downgrade CenturyLink from Overweight to Neutral and reduce our year end 2013 price target from $45 to $38.”

28.75-0.01(-0.03%)Aug 29 4:01 PMEDT