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NEW YORK — Shares of small-town and rural phone company CenturyLink Inc. and its acquisition target Qwest hit 52-week highs on Friday after a Goldman Sachs analyst pointed to their high and relatively safe dividends.

Qwest shares were up 12 cents, or 2.5 percent, to close at $6.18 after trading as high as $6.25 during the day. Century- Link closed at $38.79, up 71 cents, after hitting a high of $38.94.

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