CenturyLink Inc. (NYSE:CTL) shares shows significant surge in prices


Dallas, Texas 08/26/2013 (Financialstrend) – Shares of CenturyLink, Inc. (NYSE:CTL) had recently been presenting significant surge in prices supported by heavy volume of trading from the investors. The stock had moved up by 3.96% from the 52 week low level of prices which had prompted the Growing Stock Report to add it to the NYSE Stock Gainers Watch List. It is further worth noting that such heavy surge in prices in this stock had been primarily due to the recent upgrading of the company by the analysts at Nomura Securities. The equity research analysts had accorded Neutral Rating to the stock from the earlier Reduce rating and had further fixed up the price target at $33 per share, from the earlier $30 per share.

Such revision in rating and price targets for the stock of CenturyLink, Inc. (NYSE:CTL) had primarily been attributed to the recently presented strong results for the second quarter of fiscal year 2013. Further the firm had also recently raised its expectations on its EPS for the full fiscal year from $2.71 per share to $2.72 per share.

CenturyLink, Inc. (NYSE:CTL) had been presenting increase in prices by 2.21% on Friday to close the week at $33.30 per share. The stock had been observed to present intraday price movements in the range of $32.75 to $33.32 per share on Friday and had further attracted around 15.35 million trades on the last day of the week. However, the average level of trading volume for the stock had been reported to be at 5.74 million shares per day. It is recorded that the stock’s 52 week lowest price is at $32.05 and 52 week highest price is at $43.08 per share. The company’s total outstanding shares in the market are at 600.68 million to record market cap at $20.00 billion and institutional holdings are at 74%.

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