- Morgan Stanley picked out five telecommunications companies it rated “overweight” that the investment bank said was under-owned and undervalued.
- The bank expects global telco revenue growth to more than double between 2019 and 2021.
- The 5G rollout — the next generation of high-speed mobile internet — is also set to drive up stocks of cell tower operators.
Revenues at global telecommunications companies are set to revive again after years of decline, predicted Morgan Stanley —and that would spell good news for telco stocks.
The investment bank picked out five stocks it rated “overweight” that investors can buy: U.S. telco AT&T, HKT from Hong Kong, Canada’s Telus, Brazil’s Telefonica Brasil, Cellnex from Spain and Sweden’s Tele2. The overweight rating is an indication that the bank expects a stock or index to outperform its peers.
“We think it’s time for investors to revisit global telcos … the stocks look under-owned and undervalued,” Morgan Stanley analysts said in a Thursday report.
The bank expects global telco revenue growth to more than double between 2019 and 2021…