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Fly News Breaks for May 3, 2016
CTL
May 3, 2016 | 06:43 EDT
Wells Fargo analyst Jennifer Fritzsche downgraded CenturyLink to Market Perform citing a lack of near-term catalysts to move shares higher as well as longer term structural concerns. The company's higher margin legacy revenues are declining faster than growth in lower margin strategic services revenue, Fritzsche tells investors in a research note. He lowered his price target range for the shares to $30-$33 from $43-$45.
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