Cowen Starts CenturyLink, Inc. (CTL) at Market Perform

Cowen initiates coverage on CenturyLink, Inc. (NYSE: CTL) with a Market Perform rating and a price target of $28.00.

Analyst Gregory Williams commented, "The game plan and assets are in place to take advantage of secular demand; however, despite the generous dividend yield and aggressive buyback plan, legacy erosion continues. We look for improving fundamentals, specifically proof points on top-line stabilization (which should drive margin stabilization 18 months later) before getting constructive. Initiate with Market Perform and a $28 PT."

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 $25.86 yesterday.

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