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Morgan Stanley sees better second half for Europe telecom

Jul. 22, 2019 4:04 PM ETVOD, TEF, KKPNY, ELMUY, BGAOF, BGAOY, ELMUF, TLTZF, TLTZY, CLNXF, CLLNYBy: Jason Aycock, SA News Editor5 Comments
  • Morgan Stanley is giving some love to a beleaguered sector, saying the time has come to take a look at European telecoms.
  • After some steady underperformance, the firm says better wireless growth may be ahead for the second half.
  • There's "less bad" trends in Spain and Italy, along with decent German mobile growth, and progress on cost cuts from companies like Vodafone (NASDAQ:VOD), Royal KPN (OTCPK:KKPNY) and Tele2 (OTCPK:TLTZY), it says.
  • Its favored stocks in the sector are Cellnex (OTC:CLLNY), KPN, Tele2, MásMóvil and Telefonica (NYSE:TEF), while it's staying Underweight on Proximus (OTCPK:BGAOY), Inwit, and Elisa (OTC:ELMUY)

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