Wednesday, May 31, 2006


From Forbes:

Banc of America initiated coverage on Embarq, the wireline company that was formally spun-off from Sprint Nextel on May 17, with a "buy" rating and $47 price target.

"We believe a combination of selling pressure, conservatism surrounding the new company’s true business trajectory and disappointment regarding management’s resistance to higher equity payouts have depressed near-term valuation," wrote analyst David Barden in a report Tuesday.