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Consumer fixed data services, in particular, have been playing an important role in enabling people to work from home. According to a ResearchAndMarkets report, the global telecom market is expected to grow at a 6% CAGR over the next four years. Asia-Pacific accounted for 34% of the market last year, while North America accounted for 32%.
Against this backdrop, we think it could be wise to bet on quality foreign telecom stocks Telefónica, S.A. (TEF), KT Corporation (KT), and Türk Telekomünikasyon Anonim Sirketi (TRKNY) that are currently trading at discounts to their peers. In addition to having overall A (Strong Buy) or B (Buy) ratings in our proprietary POWR Ratings system, each of these stocks has an A grade for Value.
