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CenturyLink Downgrade: Why The Worst Isn't Over Yet

CenturyLink (CTL) is down 1% to $19.18 in recent trading Wednesday, following a downgrade from Macquarie. Analyst Amy Yong cut her rating on the shares to Underperform, with a $17.50 price target. All of the key catalysts for the company, including new management, synergies from its acquisition of Level 3 Communications, and lower corporate taxes, are already priced into the stock, the analyst writes in a research report.