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CTL

CenturyLink

$22.90

-0.04 (-0.17%)

, S

Sprint

$6.39

-0.005 (-0.08%)

07:38
09/25/18
09/25
07:38
09/25/18
07:38

CenturyLink CFO departure raises concerns, says Oppenheimer

Oppenheimer analyst Timothy Horan notes CenturyLink (CTL) has announced that CFO Sunit Patel will depart as of September 28th to join T-Mobile (TMUS) to lead the Sprint (S)/T-Mobile merger and integration efforts. The analyst expects weakness in CenturyLink's stock, as investors will likely be concerned with synergy realization after Patel's departure. While Horan says his departure is disappointing, he believes CenturyLink has a deep management bench, and Jeff Storey, CEO, will continue to be the driving force behind restructuring and expense reductions at the company. He reiterates an Outperform rating and $24 price target on the shares.

CTL

CenturyLink

$22.90

-0.04 (-0.17%)

S

Sprint

$6.39

-0.005 (-0.08%)

TMUS

T-Mobile

$68.93

-0.15 (-0.22%)

  • 04

    Oct

  • 12

    Nov

  • 13

    Nov

CTL CenturyLink
$22.90

-0.04 (-0.17%)

08/22/18
MOFT
08/22/18
DOWNGRADE
Target $19
MOFT
Sell
CenturyLink downgraded to Sell from Neutral at MoffettNathanson
MoffettNathanson analyst Nicholas Del Deo downgraded CenturyLink to Sell with a $19 price target. The shares closed yesterday up 13c to $23.98.
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".
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.
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.
S Sprint
$6.39

-0.005 (-0.08%)

06/27/18
LEHM
06/27/18
INITIATION
Target $6
LEHM
Equal Weight
Sprint initiated with an Equal Weight at Barclays
Barclays analyst Amir Rozwadowski reinstated coverage of Sprint (S) with an Equal Weight rating and $6 price target, telling investors that while shares should benefit if the proposed deal with T-Mobile (TMUS) is approved, the company's balance sheet and acknowledged need to ramp network investments could strain its financial and competitive flexibility should a deal not come to fruition. Ultimately, Sprint's valuation could see additional pressure if compelled to remain a standalone company, the analyst contends.
06/28/18
06/28/18
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. Air Transport Services (ATSG) upgraded to Buy from Hold at Stifel with analyst David Ross saying shares are attractive at current levels given long-term growth prospects. 2. T-Mobile (TMUS) upgraded to Outperform from Market Perform at Wells Fargo with analyst Jennifer Fritzsche stating that recent conversations with some of his DC contacts have made him more optimistic that a deal to merge with Sprint (S) could be approved. 3. Talend (TLND) upgraded to Buy from Neutral at with analyst Tyler Radke saying a survey of Chief Data Officers shows "strong spending signals" while the company's competitive backdrop is favorable amid "increasing cloud tailwinds". 4. Regions Financial (RF) upgraded to Neutral from Underperform at Baird with analyst David George citing the recent pullback, which he thinks has made the valuation more reasonable. 5. Twilio (TWLO) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the pullback in the stock price has created a more favorable entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/13/18
RILY
09/13/18
INITIATION
Target $46
RILY
Buy
Shenandoah initiated with a Buy at B. Riley FBR
B. Riley FBR analyst Zack Silver started Shenandoah Telecommunications (SHEN) with a Buy rating and $46 price target. The analyst sees the company benefiting from the merger between Sprint (S) and T-Mobile (TMUS).
08/07/18
SBSH
08/07/18
NO CHANGE
SBSH
Citi credit sees 80% chance of T-Mobile, Sprint merger approval
Citi credit analyst David Phipps believes T-Mobile (TMUS) and Sprint (S) have an 80% chance of winning approval for their proposed merger. The market regularly puts merger approval odds at 50/50, Phipps tells investors in a fixed income research note. The analyst remains bullish on Sprint credit.
TMUS T-Mobile
$68.93

-0.15 (-0.22%)

09/20/18
OPCO
09/20/18
NO CHANGE
OPCO
Outperform
T-Mobile, AT&T 'top large-cap picks' in telecom, says Oppenheimer
Oppenehimer analyst Timothy Horan previewed the telecom outlook for 2H18, telling investors in a research note that he believes the communications sector has bottomed relative to the market and expects to see stronger 2H performance. Horan says T-Mobile (TMUS) and AT&T (T) are his top large-cap picks, and Boingo Wireless (WIFI) and Zayo Group (ZAYO) will also benefit as carriers invest in their networks in preparation for 5G. Horan also expects T-Mobile to outperform as it continues to take share and see margin improvement.
09/13/18
KEYB
09/13/18
NO CHANGE
Target $76
KEYB
Overweight
Possible upside to T-Mobile sub guidance from 600MHz inclusion in iPhone, says KeyBanc
KeyBanc analyst Brandon Nispel notes that T-Mobile (TMUS) CEO John Legere tweeted that the new Apple (AAPL) iPhone models include 600 MHz spectrum, which he finds important given T-Mobile has aggressively built out its 600 MHz spectrum. This should improve the performance of the network, particularly from a coverage perspective, he contends, adding that T-Mobile should be incentivized to aggressively promote the new iPhones to get consumers with mobile devices capable of using the spectrum. Nispel believes an aggressive promotion period from T-Mobile could result in upside to the company's guidance for 3.0M-3.6M branded postpaid net additions. He reiterates an Overweight rating and $76 price target on T-Mobile's shares.
09/04/18
LEHM
09/04/18
DOWNGRADE
Target $50
LEHM
Equal Weight
Barclays downgrades Verizon to Equal Weight, prefers shares of T-Mobile
Barclays analyst Kannan Venkateshwar downgraded Verizon Communications (VZ) to Equal Weight from Overweight and lowered his price target for the shares to $50 from $56. The analyst likes Verizon's near- and mid-term prospects, but believes the stock's valuation will cap upside potential from present levels. Venkateshwar likes T-Mobile (TMUS) "relatively more at this point despite growth second derivatives slowing, given that the valuation already reflects this to some extent." Further, if the Sprint (S) deal does not go through, T-Mobile could become an attractive partner for one of the cable providers, which should provide downside protection, the analyst tells investors in a research note. He keeps an Overweight rating on the shares. Venkateshwar also lowered his price target for AT&T (T) to $31 from $40 and keeps an Equal Weight rating on the name.

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$27.01

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JPMorgan

$111.74

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0.21 (3.47%)

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CollPlant

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Qorvo

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