Outlook for Telecom Sector Still Upbeat, Wells Fargo Says

Many are taking an unnecessarily dim view of the telecom sector, especially given “the craziness” of recent price wars, said Wells Fargo analyst Jennifer Fritzsche. “We were marketing this past week and it was met with a lot of pity looks that we cover such a ‘horrible’ and ‘uninvestable’ space,” Fritzsche said in a Sunday note to investors. The price wars won’t go on forever, she said. “Maybe crazy and maybe we are too glass half full but recall the airline industry was once like this,” she said. “And now look how life has changed. If you don't believe us -- try to book your spring break tickets!”