Revenues at telecommunications companies are set to revive again after years of decline, predicted Morgan Stanley in a Thursday report — that could spell good news for telco stocks.
. 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.Among other drivers of that growth, it highlighted the trend of people consuming more data at an increased pace, causing them to sign up for multiple cellular plans.
Carriers are also boosting revenues on more premium services, and attracting more users through increasing affordable plans, it said.. Telcos need to lease space from these operators in order to install antennas and power wireless networks.Justin Sullivan | Getty Images
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