Morgan Stanley Reports Strong FCF Outlook On CenturyLink

According to Morgan Stanley, CenturyLink CTL has a strong FCF outlook. Morgan Stanley said that yesterday's sell-off was an overreaction to an EPS reset mostly on non-cash items. “FCF guidance calls for 50% dividend payout with room for additional uses of cash other than debt repayment. Stock now offers a potential 52% total return to our $50 target; we reiterate our OW.” CenturyLink closed yesterday at $34.66.