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CTL

CenturyLink

$22.96

0.48 (2.14%)

10:30
08/16/18
08/16
10:30
08/16/18
10:30

Sweep buyer of CenturyLink in the money puts as shares reach 52-week highs

Sweep buyer of CenturyLink in the money puts as shares reach 52-week highs. The stock up 47c to $22.94 and 8.8K Jan 25 puts trade across the exchanges for $3.40. Open interest is 2.9K and the contract captures one earnings report in early-November.

CTL CenturyLink
$22.96

0.48 (2.14%)

06/26/18
JEFF
06/26/18
UPGRADE
JEFF
Buy
CenturyLink upgraded to Buy from Hold at Jefferies
Jefferies analyst Scott Goldman upgraded CenturyLink to Buy and raised its price target to $22 from $17 citing relatively low consumer exposure, favorable operating trends, a sustainable dividend, and improving leverage. Goldman believes investors are misguided by associating CenturyLink with the more troubled RLEC sector and notes exposure to legacy Consumer revenue is an industry low 23%. The analyst expect revenue mix to support more favorable top line declines and for EBITDA to grow in 2018, driven by a ramping Level 3 synergies.
06/26/18
06/26/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Neutral from Sell at UBS with analyst Timothy Arcuri saying he sees major producers taking a more anticipatory approach to DRAM supply, which will help Micron avert the downside case he previously laid out. 2. CenturyLink (CTL) upgraded to Buy from Hold at Jefferies with analyst Scott Goldman citing relatively low consumer exposure, favorable operating trends, a sustainable dividend, and improving leverage. 3. At Home Group (HOME) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman stating that its new stores are ramping quicker than initially anticipated and he has increased confidence in the company's ability to generate high teens sales growth. 4. Lam Research (LRCX) upgraded to Buy from Neutral at UBS with analyst Timothy Arcuri saying NAND shipments are already down roughly 50% and he now thinks the September bar is set so low that a favorable trend can develop into 2019. 5. MercadoLibre (MELI) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brad Erickson stating that he is more bullish on the company's prospects in payments after visiting several companies in the FinTech/payments and e-commerce space in Latin America. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/18/18
07/18/18
DOWNGRADE
Target $17

Market Perform
Adtran downgraded to Market Perform after earnings at Northland
As previously reported, Northland analyst Tim Savageaux downgraded Adtran (ADTN) to Market Perform from Outperform following the company's Q2 report and Q3 revenue guidance that met consensus, stating that he views the shares as fairly valued given that he believes the earnings power needed to support a higher share price is "still a ways off." While Adtran is "slowly but clearly diversifying away" from CenturyLink (CTL), Savageaux has lowered expectations for any snap-back at CenturyLink and sees slower than expected progress at other U.S. Tier 1 telecom companies, he tells investors. The analyst, who reduced his estimates for 2019, cut his price target on Adtran shares to $17 from $20.
08/16/18
RBCM
08/16/18
NO CHANGE
Target $27
RBCM
Outperform
CenturyLink price target raised to $27 from $22 at RBC Capital
RBC Capital analyst Jonathan Atkin raised his price target on CenturyLink to $27 and kept his Outperform rating after its "solid" Q2 results and increased FY18 guidance on "stronger-than-expected synergy realization and benefits from portfolio rationalization". The analyst believes that the company's dividend yield is also safe and its operating expense synergy targets are "beatable". Atkin further notes that although CenturyLink's consumer business is "challenged", it only constitutes about 25% of its combined revenue, and its recent Level 3 Communications transaction helps its "pivot to the enterprise business" with "better underlying economics".

TODAY'S FREE FLY STORIES

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ALPN

Alpine Immune Sciences

$5.79

(0.00%)

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LW

Lamb Weston

$70.75

-0.145 (-0.20%)

20:36
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Lamb Weston rating change at Stifel »

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KMB

Kimberly-Clark

$115.15

-1.675 (-1.43%)

, UTX

United Technologies

$111.23

-2.7 (-2.37%)

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Kimberly-Clark

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UTX

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CMCSK

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$0.00

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CMCSA

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$35.16

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PG

Procter & Gamble

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PGR

Progressive

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SYF

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Waters

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TXRH

Texas Roadhouse

$66.00

-1 (-1.49%)

20:23
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20:23
Downgrade
Texas Roadhouse rating change at Stifel »

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UAL

United Continental

$83.34

-2.27 (-2.65%)

, JBLU

JetBlue

$17.36

-0.24 (-1.36%)

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JBLU

JetBlue

$17.36

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AAL

American Airlines

$32.75

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LUV

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$50.54

-1.04 (-2.02%)

DAL

Delta Air Lines

$47.10

-1 (-2.08%)

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PLL

Piedmont Lithium

$7.60

(0.00%)

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GSBC

Great Southern Bancorp

$49.85

-0.7 (-1.38%)

19:34
01/22/19
01/22
19:34
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19:34
Earnings
Great Southern Bancorp reports preliminary Q4 EPS $1.21, consensus $1.12 »

Reports Q4 NII $44.6M,…

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  • 23

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BAYRY

Bayer

$0.00

(0.00%)

19:08
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01/22
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19:08
Periodicals
Bayer requests that CA judge limit evidence in Roundup trial, Reuters says »

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BLK

BlackRock

$413.28

-6.01 (-1.43%)

19:07
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Hot Stocks
BlackRock CEO sells 30.8K shares of common stock »

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EHTH

eHealth

$45.38

-0.85 (-1.84%)

, ARAY

Accuray

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PTCT

PTC Therapeutics

$33.08

-1.245 (-3.63%)

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APHA

Aphria

$7.07

0.41 (6.16%)

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LOGI

Logitech

$33.69

0.24 (0.72%)

18:42
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WBA

Walgreens Boots Alliance

$71.59

-0.81 (-1.12%)

18:39
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Periodicals
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  • 25

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SMBC

Southern Missouri Bancorp

$32.22

-0.29 (-0.89%)

18:35
01/22/19
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18:35
Earnings
Southern Missouri Bancorp sees Q2 adjusted EPS 81c, consensus 72c »

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Z

Zillow

$31.41

-2.52 (-7.43%)

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VIA

Viacom

$32.44

-0.71 (-2.14%)

, VIAB

Viacom

$29.22

-0.87 (-2.89%)

18:25
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Hot Stocks
Viacom to acquire Pluto TV for $340M in cash »

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VIA

Viacom

$32.44

-0.71 (-2.14%)

VIAB

Viacom

$29.22

-0.87 (-2.89%)

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GOOG

Alphabet

$1,070.72

-27.53 (-2.51%)

, GOOGL

Alphabet Class A

$1,078.68

-28.24 (-2.55%)

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GOOG

Alphabet

$1,070.72

-27.53 (-2.51%)

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$1,078.68

-28.24 (-2.55%)

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VIA

Viacom

$32.44

-0.71 (-2.14%)

, VIAB

Viacom

$29.22

-0.87 (-2.89%)

18:16
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18:16
Periodicals
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VIA

Viacom

$32.44

-0.71 (-2.14%)

VIAB

Viacom

$29.22

-0.87 (-2.89%)

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  • 05

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AZZ

AZZ Inc.

$45.09

-0.67 (-1.46%)

18:13
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Earnings
AZZ Inc. sees FY20 EPS $2.25-$2.75, consensus $2.54 »

Sees FY20 revenue…

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