Nomura Securities Maintains a 'Buy' on CenturyLink (CTL); Solid Q1; Raising Estimates on Conservative Outlook

May 10, 2012 11:06 AM EDT
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Price: $25.50 +0.12%

Rating Summary:
    6 Buy, 15 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Nomura Securities maintains a 'Buy' on CenturyLink, Inc. (NYSE: CTL) price target of $45.00.

Analyst, Mike McCormack, said, "CenturyLink delivered better-than-expected 1Q12 EPS on improved EBITDA, and raised guidance by a commensurate amount. Guidance commentary included improving revenue declines and better Qwest merger synergies netting to higher margins. However, FCF guidance was not raised, as Savvis and Prism TV initiatives capex appear to be absorbing EBITDA improvements. CenturyLink remains committed to repaying $1.5bn-$2bn in debt. We do not see an opportunity for share buybacks until 2013. We are raising our 2012E EPS from $2.36 to $2.51."

For an analyst ratings summary and ratings history on CenturyLink, Inc. click here. For more ratings news on CenturyLink, Inc. click here.

Shares of CenturyLink, Inc. closed at $38.12 yesterday.

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