Nomura Securities Maintains a 'Buy' on CenturyLink (CTL); Still Attractively Valued

Nomura Securities maintains a 'Buy' on CenturyLink, Inc. (NYSE: CTL) price target lowered from $50 to $45.

Nomura analyst, Mike McCormack, said, "CenturyLink remains among the most attractively valued stocks in our coverage universe. During the quarter, the company exhibited better subscriber metrics and remains bullish on the opportunity provided by Prism TV, the fiber-to-the-tower (FTTT) opportunity, hosting and cloud services, and improving trends in the legacy Qwest footprint. We believe the company is well positioned for near-term delevering, as well as a meaningful increase in return of capital to shareholders in 2012. Our FY11E EPS goes from $1.65 to $1.52 and FY12E goes from $1.86 to $1.70. We have lowered our price target to $45 to reflect lower 2012 cash flows."

For more ratings news on CenturyLink, Inc. click here and for the rating history of CenturyLink, Inc. click here.

Shares of CenturyLink, Inc. closed at $34.55 yesterday.

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