Downgrade Alert for CenturyTel (CTL)
CenturyTel (NYSE:CTL) was downgraded from Equal Weight to Underweight at Morgan Stanley today. The stock closed yesterday at $30.92 on volume of 4.8 million shares, above average daily volume of 4.5 million.
CenturyTel, Inc. is an integrated communications company. The Company provides a wide range of communications services, including local and long distance voice, Internet access and broadband services. CenturyTel operates throughout the United States.
In the past 52 weeks, shares of CenturyTel have traded between a low of $21.94 and a high of $36.39 and closed yesterday at $30.92, which is 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.
CenturyTel (NYSE:CTL) defies analysts with a current price ($30.92) 0.3% above its average consensus price target of $30.82. The stock should find resistance at its 50-day moving average (MA) of $31.54, as well as support at its 200-day MA of $27.86.
SmarTrend recommended that subscribers consider buying shares of CenturyTel on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.12. Since that recommendation, shares of CenturyTel have risen 7.6%. We continue to monitor CTL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Centurytel