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CTL

CenturyLink

$14.70

0.15 (1.03%)

16:26
02/13/19
02/13
16:26
02/13/19
16:26

CenturyLink sees FY19 free cash flow $3.1B-$3.4B

Sees FY19 CapEx $3.5B-$3.8B; effective tax rate ~25%.

  • 13

    Feb

  • 25

    Feb

CTL CenturyLink
$14.70

0.15 (1.03%)

01/29/19
JPMS
01/29/19
NO CHANGE
Target $38
JPMS
Overweight
CenturyLink deal for Zayo Group could be difficult, says JPMorgan
JPMorgan analyst Philip Cusick says within the potential reported bidders for Zayo Group (ZAYO), he remains "somewhat skeptical" of a strategic transaction by a customer. He sees many of the customers as either not really needing to own the asset or not wanting to own parts of the assets. However, a deal with CenturyLink (CTL) could make strategic sense, says Cusick, who models $280M of annual synergies in his base case. The analyst, though, feels CenturyLink acquiring Zayo could be difficult given CenturyLink's "stretched balance sheet and very expensive cost of equity." Regardless of a potential deal, Cusick continues to recommend Zayo shares with an Overweight rating and $38 target, mostly based on fundamental improvements from here with the potential for a "faster return through M&A."
02/05/19
SBSH
02/05/19
DOWNGRADE
SBSH
Sell
CenturyLink downgraded to Sell from Neutral at Citi
Citi analyst Michael Rollins downgraded CenturyLink to Sell.
02/05/19
SBSH
02/05/19
DOWNGRADE
Target $11
SBSH
Sell
Citi sees 50% dividend cut for CenturyLink in 2020, downgrades to Sell
Citi analyst Michael Rollins downgraded CenturyLink to Sell from Neutral and cut his price target for the shares to $11 from $19. The analyst expects headwinds on revenue and cash flow, a possible dividend cut, and the likelihood for capex upgrades to lead to further multiple contraction. CenturyLink will face a "growing tug of war" on cash flow beginning in 2019, which will result in a dividend payout level "well above its previously articulated comfort zone," Rollins tells investors in a research note. The analyst forecasts a 50% dividend cut in 2020 for CenturyLink. Further, he believes a sum-of-parts approach "is not compelling" given that the heritage CenturyLink operations are experiencing mid-single digit revenue declines and Level 3 hasn't grown revenue over the last two years.
02/05/19
02/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Rent-A-Center (RCII) downgraded to Neutral from Buy at Janney Montgomery Scott with analyst John Rowan citing the stock's 50% rise from its intra-day low of $11.98 on December 18, 2018. 2. Equifax (EFX) downgraded to Hold from Buy at Deutsche Bank with analyst Ashish Sabadra saying the shares have rallied significantly off the bottom and outperformed the market year-to-date due to expectations for improving mortgage originations and overall consumer lending. 3. Kraft Heinz (KHC) downgraded to Hold from Buy at Deutsche Bank with analyst Rob Dickerson saying his analysis shows store brands continue to increase distribution points and take share in the majority of Kraft Heinz's largest categories. 4. CenturyLink (CTL) downgraded to Sell from Neutral at Citi with analyst Michael Rollins saying he expects headwinds on revenue and cash flow, a possible dividend cut, and the likelihood for capex upgrades to lead to further multiple contraction. 5. Cronos Group (CRON) downgraded to Hold from Buy at GMP Securities with analyst Martin Landry citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

OCUL

Ocular Therapeutix

$4.22

0.61 (16.90%)

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Ocular Therapeutix higher after pricing $37.5M in convertible notes »

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11:35
02/22/19
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The Fed's Monetary Policy Report »

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AXNX

Axonics

$21.65

-0.85 (-3.78%)

11:33
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EA

Electronic Arts

$95.01

-1.825 (-1.88%)

11:30
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Options
Buyer pays $3.3M for EA upside calls as shares drop 2% »

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VLKAY

Volkswagen

$0.00

(0.00%)

11:27
02/22/19
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11:27
Periodicals
VW CEO says he hopes company did enough 'to avoid import taxes', CNBC reports »

Volkswagen CEO Herbert…

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AMRN

Amarin

$19.10

1.68 (9.64%)

11:25
02/22/19
02/22
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11:25
Options
Amarin call volume above normal and directionally bullish »

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MDT

Medtronic

$93.25

0.65 (0.70%)

11:25
02/22/19
02/22
11:25
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11:25
Conference/Events
Medtronic participates in a conference call with JPMorgan »

Healthcare Analyst Marcus…

03/08/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
02/22/19
02/22
11:17
02/22/19
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
02/22/19
02/22
11:16
02/22/19
11:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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11:15
02/22/19
02/22
11:15
02/22/19
11:15
General news
Fed's Daly said the Fed should aim to hit the 2% inflation target on average »

Fed's Daly said the…

TOT

Total

$56.80

0.74 (1.32%)

11:11
02/22/19
02/22
11:11
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11:11
Periodicals
Total cancels sale of Dutch North Sea gas fields, Bloomberg reports »

Total has called off a…

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03/06/13
Citigroup
03/06/13
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CZR

Caesars

$9.01

-0.41 (-4.35%)

11:10
02/22/19
02/22
11:10
02/22/19
11:10
Options
Post-earnings put roll in Caesars adjusts yesterday's big spread »

Post-earnings put roll in…

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03/08/13
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03/06/13
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TSLA

Tesla

$294.87

3.69 (1.27%)

, MS

Morgan Stanley

$41.91

-0.05 (-0.12%)

11:07
02/22/19
02/22
11:07
02/22/19
11:07
Periodicals
Tesla CEO looks to Morgan Stanley for five major mortgages, Bloomberg reports »

Tesla (TSLA) CEO Elon…

TSLA

Tesla

$294.87

3.69 (1.27%)

MS

Morgan Stanley

$41.91

-0.05 (-0.12%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 22

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BDRBF

Bombardier

$0.00

(0.00%)

11:05
02/22/19
02/22
11:05
02/22/19
11:05
Hot Stocks
Bombardier to invest $22M in two aerospace research projects in Quebec »

Bombardier announced that…

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03/08/13
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03/06/13
Citigroup
03/06/13
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ZG

Zillow

$40.94

5.87 (16.74%)

, Z

Zillow

$41.12

6.09 (17.39%)

11:03
02/22/19
02/22
11:03
02/22/19
11:03
Hot Stocks
Zillow adds to gain as Citron sets $70 target, turns positive after CEO change »

Shares of Zillow Group…

ZG

Zillow

$40.94

5.87 (16.74%)

Z

Zillow

$41.12

6.09 (17.39%)

03/08/13
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03/08/13
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03/06/13
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BECN

Beacon Roofing

$37.50

0.13 (0.35%)

11:02
02/22/19
02/22
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11:02
Hot Stocks
Beacon Roofing announces departure of CEO Paul Isabella later this year »

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  • 27

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C

Citi

$64.03

-0.28 (-0.44%)

11:00
02/22/19
02/22
11:00
02/22/19
11:00
Options
Active trading in Citigroup short-term puts »

Active trading in…

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  • 22

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ZG

Zillow

$40.54

5.47 (15.60%)

, Z

Zillow

$40.94

5.91 (16.87%)

10:57
02/22/19
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Periodicals
Citron says now positive on Zillow, calls returning CEO a 'stud' »

Citron Research tweeted:…

ZG

Zillow

$40.54

5.47 (15.60%)

Z

Zillow

$40.94

5.91 (16.87%)

03/08/13
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  • 25

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    Mar

ZG

Zillow

$40.54

5.47 (15.60%)

, Z

Zillow

$40.94

5.91 (16.87%)

10:57
02/22/19
02/22
10:57
02/22/19
10:57
Periodicals
Breaking Periodicals news story on Zillow, Zillow »

Citron Research turns…

ZG

Zillow

$40.54

5.47 (15.60%)

Z

Zillow

$40.94

5.91 (16.87%)

03/08/13
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03/06/13
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PFE

Pfizer

$43.02

0.88 (2.09%)

10:55
02/22/19
02/22
10:55
02/22/19
10:55
Periodicals
Pfizer exec to host presidential fundraiser for Gillibrand campaign, CNBC says »

Pfizer's executive…

03/08/13
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  • 22

    Feb

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PLNT

Planet Fitness

$59.40

1.14 (1.96%)

10:50
02/22/19
02/22
10:50
02/22/19
10:50
Options
Earnings hedge opened in Planet Fitness »

Earnings hedge opened in…

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  • 26

    Feb

FDX

FedEx

$178.46

-3.82 (-2.10%)

, AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

10:44
02/22/19
02/22
10:44
02/22/19
10:44
On The Fly
Stamps.com plummets after announcing discontinuation of USPS partnership »

Shares of Stamps.com…

FDX

FedEx

$178.46

-3.82 (-2.10%)

AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

STMP

Stamps.com

$84.82

-113.26 (-57.18%)

UPS

UPS

$109.32

-2.44 (-2.18%)

03/08/13
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  • 03

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    Apr

TROX

Tronox

$11.80

0.45 (3.96%)

10:40
02/22/19
02/22
10:40
02/22/19
10:40
Options
Bullish call flow in Tronox ahead of earnings next week »

Bullish call flow in…

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  • 28

    Feb

10:40
02/22/19
02/22
10:40
02/22/19
10:40
General news
Fed's Williams: the Phillips Curve is "alive and well" »

Fed's Williams: the…

C

Citi

$64.24

-0.07 (-0.11%)

, INTC

Intel

$52.73

1.33 (2.59%)

10:39
02/22/19
02/22
10:39
02/22/19
10:39
On The Fly
Citi, Intel upgrades, Roku, Nordstrom downgrades among today's top analyst calls »

Check out today's top…

C

Citi

$64.24

-0.07 (-0.11%)

INTC

Intel

$52.73

1.33 (2.59%)

ROKU

Roku

$59.51

8.04 (15.62%)

JWN

Nordstrom

$43.50

-0.97 (-2.18%)

KHC

Kraft Heinz

$34.95

-13.24 (-27.47%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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