New Buy Rating for CenturyLink Inc (CTL), the Technology Giant

By Austin Angelo

Jefferies analyst Scott Goldman reiterated a Buy rating on CenturyLink Inc (NYSE: CTL) yesterday and set a price target of $23. The company’s shares closed yesterday at $20.97, close to its 52-week high of $22.03.

According to TipRanks.com, Goldman is a 4-star analyst with an average return of 14.0% and a 61.5% success rate. Goldman covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Boingo Wireless Inc, and Consolidated Comms.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CenturyLink Inc with a $22.30 average price target, implying a 6.3% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $24 price target.

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Based on CenturyLink Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.9 billion and net profit of $292 million. In comparison, last year the company earned revenue of $4.09 billion and had a net profit of $17 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CenturyLink, Inc. is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the Business and Consumer segment.