Oppenheimer Keeps Their Buy Rating on CenturyLink Inc (CTL)

Oppenheimer analyst Timothy Horan maintained a Buy rating on CenturyLink Inc (CTL) yesterday and set a price target of $22. The company’s shares closed yesterday at $21.08.

Horan commented:

“CenturyLink missed 3Q18 revenue and EBITDA by 1% but operating EPS of $0.28 was in line. Management has delivered $790M in annualized run-rate adj. EBITDA synergies on a merger-set 3-year goal of $850M and should realize the remainder by YE. CTL is set to digitally transform the business. Management is enhancing its enterprise services (SD-WAN, cloud analytics, networking) to strengthen its competitive position. Negatively, CTL faces ever-increasing pressure from cloud- based, cable and wireless competitors. Management decreased capex guidance and increased 2018 FCF by 11% to $4.2B.”

According to, Horan is a top 25 analyst with an average return of 16.9% and a 75.1% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CenturyLink Inc with a $23.17 average price target.

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Based on CenturyLink Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.9 billion and net profit of $292 million. In comparison, last year the company earned revenue of $4.03 billion and had a net profit of $92 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock.

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CenturyLink, Inc. is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the Business and Consumer segment.