- 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)