Fly News Breaks for May 23, 2019
May 23, 2019 | 07:17 EDT
Guggenheim analyst Mike McCormack upgraded CenturyLink to Neutral from Sell with the shares below his price target of $10. Despite the continued challenging fundamental backdrop, CenturyLink shares offer a more balanced risk/reward after declining 34% year-to-date, McCormack tells investors in a research note. While the analyst finds it unlikely that the company's Consumer business will get sold, he believes management is appropriately running the unit for cash as de-levering continues.
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