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CTL

CenturyLink

$15.70

-0.17 (-1.07%)

, FTR

Frontier Communications

$10.05

-0.01 (-0.10%)

07:55
12/13/17
12/13
07:55
12/13/17
07:55

Morgan Stanley says CenturyLink can outperform after industry's challenging 2017

Noting that 2017 was a challenging year for wireline telecom and that CenturyLink struggled to hit guidance for the third consecutive year, Simon Flannery still believes that the Level 3 merger is transformative and contends that CenturyLink's (CTL) valuation should ultimately diverge from legacy wireline peers such as Frontier (FTR) and Windstream (WIN) if the deal proves successful. If 2017 marks the trough in operational performance, CenturyLink is poised to outperform "meaningfully" next year and beyond, said Flannery, who trimmed his price target on the stock to $21.60 from $26 but maintains an Overweight rating on the shares.

CTL

CenturyLink

$15.70

-0.17 (-1.07%)

FTR

Frontier Communications

$10.05

-0.01 (-0.10%)

WIN

Windstream

$2.03

(0.00%)

CTL CenturyLink
$15.70

-0.17 (-1.07%)

11/10/17
OPCO
11/10/17
NO CHANGE
Target $20
OPCO
Outperform
CenturyLink dividend cut logical, but unlikely, says Oppenheimer
At a 13% yield, it is logical for CenturyLink to cut the dividend in half to spend more on its network, but management is unlikely to do so, Oppenheimer analyst Timothy Horan tells investors in a research note. He now sees the payout ratio in the 80% range. CenturyLink is positioning itself to be a global, enterprise-focused company, which is the correct route, the analyst adds. He cut his price target for the shares to $20 from $28 and keeps an Outperform rating on the name.
11/09/17
JPMS
11/09/17
NO CHANGE
Target $26
JPMS
Overweight
CenturyLink shares to slowly rebound from here, says JPMorgan
JPMorgan analyst Philip Cusick believes CenturyLink shares were building in worse than the "soft" Q3 results and revenue outlook below the low-end of the previous range. CenturyLink maintained the current $2.16 dividend which implies a 13.3% yield, and all of the go-forward management emphasized their commitment to continuing to pay it, Cusick tells investors in a post-earnings research note. He believes a dividend cut was already built into the stock and expects shares to slowly rebound from current levels. The stock should be attractive to income-oriented investors, the analyst contends. He reiterates an Overweight rating on CenturyLink while trimming his price target to $26 from $28.
11/09/17
DBAB
11/09/17
NO CHANGE
Target $16
DBAB
Hold
CenturyLink keeping dividend an 'uphill battle,' says Deutsche Bank
Deutsche Bank analyst Matthew Niknam thinks the sustainability of CenturyLink's current dividend will remain in question until more meaningful inflections are seen in pro forma trends. In a post-earnings research note titled "Proving dividend sustainability will be an uphill battle," the analyst lowered his price target for the shares to $16 from $20 and keeps a Hold rating on CenturyLink.
11/28/17
GABE
11/28/17
NO CHANGE
Target $26
GABE
Buy
CenturyLink estimates lowered at Gabelli
Gabelli analyst Sergey Dluzhevskiy lowered CentruyLink estimate to reflect recent guidance and reduced revenue expectations and profitability for the legacy business. The analyst also lowered his valuation multiple to reflect the competitive environment, resulting in his private market value estimate moving to $26 from $29. Dluzhevskiy rates CenturyLink a Buy.
FTR Frontier Communications
$10.05

-0.01 (-0.10%)

11/01/17
11/01/17
DOWNGRADE
Target $8

Underweight
JPMorgan downgrades Frontier Communications, sees dividend cut as likely
As previously reported, JPMorgan analyst Philip Cusick downgraded Frontier Communications to Underweight from Neutral, saying the company reported mostly in-line Q3 earnings but he struggles to see how the company will keep up with competition. Frontier's board voted to pay the December dividend of 60c, "which makes no sense," said Cusick, who believes the board is likely to cut it after that. He lowered his price target to $8 from $17 on Frontier shares, which are down 26% to $8.95 heading into the close.
11/02/17
WELS
11/02/17
NO CHANGE
Target $9
WELS
Market Perform
Frontier Communications price target lowered to $9 from $14.50 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche lowered her price target for Frontier Communications to $9 from $14.50 after the company reported mixed Q3 results. The analyst reiterates a Market Perform rating on the shares.
11/10/17
11/10/17
DOWNGRADE
Target $4

Underperform
Frontier Communications downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst David Barden downgraded Frontier Communications to Underperform and slashed its price target to $4 from $19 due to dividend concerns. Barden said Frontier is evaluating the dividend quarter to quarter, while trying to reduce net leverage, and cannot assume with certainty that the dividends will get paid.
11/09/17
GABE
11/09/17
DOWNGRADE
GABE
Hold
Frontier Communications downgraded to Hold from Buy at Gabelli
Gabelli analyst Sergey Dluzhevskiy downgraded Frontier Communications to Hold from Buy telling investors he has increased concerns customer and revenue trends are not improving fast enough for the company to stabilize the business and deliver meaningful results. The analyst expects leverage to remain elevated over the next few years and does not expect the competitive environment to ease. Further, Dluzhevskiy said the dividend faces increased risk of being cut if management decides to reinvest in order to accelerate operating trends and or pays down debt.
WIN Windstream
$2.03

(0.00%)

09/19/17
RAJA
09/19/17
NO CHANGE
RAJA
Windstream, Uniti selloff on S&P change unfounded, says Raymond James
Raymond James analyst Frank Louthan attributes the weakness today in shares of Windstream (WIN) and Uniti Group (UNIT) to Standard & Poor's lowering its ratings on both companies to B from B+. The rating agency's analysis is "very weak" and seems a reaction to recent market moves rather than new information, Louthan tells investors in an intraday research note. The review does not take into account the recent "highly" free cash flow accretive acquisitions or the dividend cut, the analyst adds. He calls the selloff in the stocks "unfounded."
09/26/17
SBSH
09/26/17
DOWNGRADE
Target $18
SBSH
Neutral
Uniti Group downgraded to Neutral wiht $18 price target at Citi
Citi analyst Michael Rollins downgraded Uniti Group (UNIT) to Neutral from Buy and cut his price target for the shares to $18 from $27. The widening of Windstream's (WIN) bond spreads could drive further near-term underperformance for Uniti given their relatively high correlation to Uniti's dividend yield, Rollins tells investors in a research note. He believes potential catalysts for Uniti may be further out than previously thought.
10/03/17
RHCO
10/03/17
NO CHANGE
RHCO
Uniti Group weakness overdone, says SunTrust
After a Windstream (WIN) noteholder alleged that the company defaulted on its covenant as a result of the spin off of Unit (UNIT)i, SunTrust analyst Greg Miller says that this development added to the decline of Uniti's stock and increases its legal risk. However, he thinks that Windstream will be able to convince the court to dismiss the noteholder's petition, and he consequently believes that the decline in Uniti is overdone. He cut his price target on Uniti to $25 from $30 but keeps a Buy rating on the shares.
10/19/17
RAJA
10/19/17
NO CHANGE
RAJA
Outperform
Raymond James sees exchange offers for Windstream debt as 'good strategic move'
Raymond James analyst Frank Louthan IV notes that Windstream announced a series of exchange offers for several of its debt issuances out to 2023. The analyst believes this is a "good strategic move" to attempt to get the issue taken off the table, while getting the 2023 bonds in question potentially exchanged and the default issue resolved inside of the 60-day window established by Aurelius's letter to the trustees on September 21. Further, the strategy potentially clears some of the matter up ahead of the legal timeline that Louthan believes will stretch into 2018, but like all chess games, its likely part of the entire game, not the end. He reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

SPX

S&P 500

$0.00

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, SPY

SPDR S&P 500 ETF Trust

$271.93

-0.64 (-0.23%)

10:35
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Technical Analysis
Technical Take: SPDR S&P 500 ETF falls from highs after first hour »

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SPX

S&P 500

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SPDR S&P 500 ETF Trust

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XGTI

xG Technology

$0.76

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10:35
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FTR

Frontier Communications

$9.05

-0.5 (-5.24%)

10:35
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Options
Frontier Communications put volume heavy and directionally bearish »

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10:33
05/23/18
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General news
Crude inventories for week of May 18 »

Crude oil inventories…

QTNA

Quantenna Communications

$15.66

0.72 (4.82%)

, KOOL

Cesca Therapeutics

$0.54

0.0091 (1.71%)

10:33
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Initiation
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QTNA

Quantenna Communications

$15.66

0.72 (4.82%)

KOOL

Cesca Therapeutics

$0.54

0.0091 (1.71%)

WTI

W&T Offshore

$8.26

-0.09 (-1.08%)

TAST

Carrols Restaurant

$11.70

0.05 (0.43%)

VNDA

Vanda Pharmaceuticals

$17.05

0.5 (3.02%)

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    Jun

INTU

Intuit

$192.03

1.62 (0.85%)

, DSW

DSW

$24.95

-0.69 (-2.69%)

10:32
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10:32
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Downgrade
On The Fly: Top five analyst downgrades »

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INTU

Intuit

$192.03

1.62 (0.85%)

DSW

DSW

$24.95

-0.69 (-2.69%)

SHAK

Shake Shack

$58.44

0.46 (0.79%)

LTC

LTC Properties

$39.13

-0.32 (-0.81%)

CELG

Celgene

$77.24

0.65 (0.85%)

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AEE

Ameren

$57.59

0.87 (1.53%)

, GDS

GDS Holdings

$38.91

1.53 (4.09%)

10:32
05/23/18
05/23
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10:32
Upgrade
On The Fly: Top five analyst upgrades »

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AEE

Ameren

$57.59

0.87 (1.53%)

GDS

GDS Holdings

$38.91

1.53 (4.09%)

JWN

Nordstrom

$47.30

1.51 (3.30%)

FCX

Freeport McMoRan

$16.98

-0.19 (-1.11%)

CELG

Celgene

$77.24

0.65 (0.85%)

03/08/13
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GSHD

Goosehead Insurance

$16.30

0.26 (1.62%)

10:32
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05/23
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Hot Stocks
Goosehead Insurance plans to open corporate office in Chicago »

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NDSN

Nordson

$128.43

-0.84 (-0.65%)

10:26
05/23/18
05/23
10:26
05/23/18
10:26
Downgrade
Nordson rating change  »

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  • 06

    Jun

CELG

Celgene

$77.35

0.76 (0.99%)

10:24
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05/23
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Street Fight: Argus sees Celgene risk, but Bernstein thinks sentiment at bottom »

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  • 24

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    Jun

EVOP

EVO Payments

$0.00

(0.00%)

10:21
05/23/18
05/23
10:21
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10:21
Syndicate
Breaking Syndicate news story on EVO Payments »

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  • 23

    May

MRK

Merck

$59.07

0.61 (1.04%)

10:20
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10:20
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10:20
Options
Short term call buyers in Merck lead puts 8:1 »

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  • 23

    Oct

CWH

Camping World

$20.09

-1.31 (-6.12%)

10:18
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Hot Stocks
Camping World slides after reporting change in registered public accounting firm »

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EVOP

EVO Payments

$0.00

(0.00%)

10:17
05/23/18
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10:17
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Syndicate
EVO Payments indicated to open at $20.80, IPO priced at $16.00 »

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  • 23

    May

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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NYSE market internals summary »

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CWH

Camping World

$20.20

-1.2 (-5.61%)

10:13
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Hot Stocks
Camping World slides after reporting change in registered public accounting firm »

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KMI

Kinder Morgan

$15.97

0.03 (0.19%)

10:10
05/23/18
05/23
10:10
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10:10
Options
Bullish option flow in Kinder Morgan »

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JD

JD.com

$36.41

0.04 (0.11%)

10:05
05/23/18
05/23
10:05
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10:05
Options
JD.com call volume above normal and directionally bullish »

Bullish option flow…

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XLNX

Xilinx

$68.97

-2.69 (-3.75%)

10:04
05/23/18
05/23
10:04
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10:04
Technical Analysis
Technical Take: Xilinx falls after investor day »

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10:03
05/23/18
05/23
10:03
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10:03
General news
New Home Sales data reported »

April New Home Sales at…

TIF

Tiffany

$117.76

15.5 (15.16%)

10:01
05/23/18
05/23
10:01
05/23/18
10:01
Recommendations
Tiffany analyst commentary  »

Tiffany price target…

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  • 23

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MGM

MGM Resorts

$31.57

-0.005 (-0.02%)

09:55
05/23/18
05/23
09:55
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09:55
Options
MGM Resorts put volume heavy and directionally bearish »

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TIF

Tiffany

$116.41

14.15 (13.84%)

, RL

Ralph Lauren

$126.98

10.31 (8.84%)

09:55
05/23/18
05/23
09:55
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09:55
Options
Early notable gainers among liquid option names on May 23rd »

Notable gainers among…

TIF

Tiffany

$116.41

14.15 (13.84%)

RL

Ralph Lauren

$126.98

10.31 (8.84%)

LOW

Lowe's

$92.09

6.35 (7.41%)

URBN

Urban Outfitters

$42.69

1.48 (3.59%)

AAP

Advance Auto Parts

$117.04

1.72 (1.49%)

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    Jun

PLAB

Photronics

$9.30

0.25 (2.76%)

09:55
05/23/18
05/23
09:55
05/23/18
09:55
Conference/Events
Photronics to hold an analyst and investor event »

Analyst and Investor…

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