CenturyLink Stock Has Jumped ~7.3% Today—Here’s Why

CenturyLink upgraded to an “outperform”

CenturyLink (CTL) stock was up ~7.3% and was trading at $11.70 as of 2:17 PM ET on June 27 after Wells Fargo upgraded its stock. Wells Fargo upgraded its rating on CTL to an “outperform” from a “market perform” and raised the stock’s target price to $14 from $12 per share. The new target price indicates a potential upside of ~28% based on its closing price of $10.91 on June 26.

Analysts’ consensus on CenturyLink

Among the 15 analysts covering CenturyLink stock, three have given it “buys,” 11 have given it “holds,” and one has given it a “sell.” Analysts have a mean target price of $12.92 per share on CenturyLink stock, which implies a potential upside of 18.4% based on its closing price of $10.91 on June 26.

Based on CenturyLink’s closing price on June 26, the company has reported returns of -3.7% in the last five trading days, 7.9% in the trailing-one-month period, and -41.8% in the trailing-12-month period. The company has reported a return of -28.0% since the start of 2019.