A couple years ago, I wasn’t particularly bullish on telecoms.
I considered MLPs a better area for high yields than telecoms, even when the long-term tailwinds were factored into the telecoms. However, after one of these telecom stocks has performed rather poorly in the markets, one has performed only reasonably well, and one has outperformed, I view them as a group to be decent values in an industry with good long-term growth prospects. Stocks that don’t do well in the markets while the underlying company fundamentals and dividend payments continue to grow start to become more appealing over time. Some of the deeper values are due to heavy exposure to Europe, which gives contrarian investors some interesting potential stock selections.