TODAY: According to frequent contributor Dave Sterman, the
buzz today concerns growth rates in wireless and the potential
impact on smaller regional players like Ubiquitel (UPCS), and
Airgate PCS (PCSA).

Also, equity research columnist Ben Mattlin reports on high-flying
European telcos enjoying "buy" ratings.

Of note, Qualcomm (QCOM) figures prominently in our Top 10 most
recommended list, and is the subject of a glowing report from
Morgan Stanley, which Multex Investor members like you can read
by registering for the firm's free research trial. See below.

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Investment ideas
Broker reports
Top 10
Free and sponsored reports

==============================================================


Investment ideas
-----------------------------------------

1. Beltway blues: Regulatory roadblocks loom for RBOCs
Hating Ma Bell has never gone out of style

By Dave Sterman, equity research columnist

The slowing economy has been a boon for at least one segment of
the telecom world. The Regional Bell Operating Companies (RBOCs)
saw many smaller competitors go bankrupt in 2001, and their
purchasing costs fell as telecom equipment vendors were forced to
lower prices to win business. That left management of these firms
sitting in the catbird seat as we head into 2002.

But hold the phone. Washington appears set to deliver a series of
regulatory setbacks to RBOCS such as SBC Communications (SBC),
BellSouth (BLS), Qwest Communications (Q) and Verizon (VZ).

Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=5791&nd=0115


2. International wires: New euros resolutions
Three European telcos start the year with new "buy" ratings. But will
they stick?

By Ben Mattlin, equity research columnist

After a lackluster 2001, the new year started off with a bang for
many European telcos. In the first week of 2002, a screen of those
with an average analyst rating of 2 ("buy") or better reveals
three newcomers.

Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=5788&nd=0115


3. Buyout opportunities: Big fish, little fish
As growth in wireless slows, investment bankers may get busy

By Dave Sterman, equity research columnist

News that a few small wireless carriers just reported weak Q4
subscriber results may seem insignificant. But it should be viewed
as a defining moment for the next phase of the wireless industry:
consolidation. As growth slows, the larger carriers appear set to
gobble up the smaller carriers in a bid to maintain growth.

The industry's structure holds the key. Big carriers such as
Sprint PCS (PCS), Nextel Communications (NXTL) and AT&T Wireless (AWE)
have entered into agreements with 'affiliates.' These affiliates are
run by entrepreneurs that got the green light to raise capital and
launch service in areas not served by their bigger counterparts. For
example, Alamosa Holdings (APS), Ubiquitel (UPCS), and
Airgate PCS (PCSA) all operate in conjunction with national player
Sprint PCS. They benefit from a national marketing plan, and get
paid by the minute when callers roam into their territorial networks.

Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=5861&nd=0115


4. Beating the odds: Amid industry funk, satellite radio makes
dazzling debut Analysts expect near-term pullback, but like the
segment's potential

by John Filar Atwood, equity research columnist

Perhaps you missed it. Amid the turmoil and growing economic
uncertainty of late 2001, XM Satellite Radio (XMSR) completed one
of the most successful consumer electronic product launches in years.

The company completed the national rollout of its digital audio radio
service, which delivers digital quality radio to cars via satellite.
XMSR now offers 100 channels coast to coast for a fee of $9.99 per
month.

Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=5895&nd=0115


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Broker reports
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2. SPECIAL REPORT: AT&T (T): Pure value

Lehman takes a comprehensive look at T, with analysis of the
various parts of the company including business and consumer
services, detailed coverage of the pending broadband deal, and an
overall valuation opinion. (13-page report for purchase - $50)
http://www.thetelecommanalyst.com/download.asp?docid=5711628&nd=0115


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Top 10: Most recommended telecommunications stocks
-----------------------------------------

Top 10: Most recommended telecommunications stocks
This week's selection includes Crown Castle International (CCI),
Leap Wireless (LWIN), and Verizon Communications (VZ).


Presenting the latest valuation and analyst recommendation data from
Multex's proprietary stock-screening tool applied to the universe
of The Telecomm Analyst stocks. See tables sorting the top 10 stocks
according to the highest average recommendation.
http://www.thetelecommanalyst.com/article.asp?docid=1502&nd=0115


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