Stifel Nicolaus Upgrades CenturyLink to Buy (CTL)

Stifel Nicolaus is out with its report today on CenturyLink (NYSE: CTL), upgrading CTL from Hold to Buy.

In a note to clients, Stifel Nicolaus writes, "We are upgrading our rating on the shares of CenturyLink to Buy from Hold, with a $44 target price. Our upgrade is largely premised on valuation, but also takes into account the likely upside potential to synergies associated with the pending April 1 acquisition of Qwest Communications."

At the time of posting, shares of CTL were trading pre-market at $40.25, up 0.45% from Tuesday's close.