Bank of America Comments on CenturyLink

Bank of America has published a research report on CenturyLink Inc CTL changing estimates for the communications company. In the report, Bank of America wrote, "In the trading session immediately following the release of CenturyLink's 2Q earnings shares fell 6% while the S&P 500 rose 0.5% as we believe the market reacted to a headline EPS miss of $0.64 vs. consensus $0.66. With the wide range of post-merger changes to non-cash items such as depreciation and amortization, we didn't and still don't see any information value in the EPS delta." Bank of America rated CenturyLink a BUY with a price target of $50.00. CenturyLnk closed Tuesday at $33.58.