Robert W. Baird upgrades AT&T (T +1%), Verizon (VZ +0.8%), Leap Wireless (LEAP +4%) and Metro PCS (PCS +2.1%), calling AT&T's proposed acquisition of T-Mobile (OTCQX:DTEGY) a "watershed event" benefiting all wireless carriers. "Reducing the number of nationwide providers... should improve pricing stability, which is all the more important in the face of surging data traffic."