In his latest article for Morningstar.com, Validea CEO John Reese takes a look at some of his top picks in a sector that hasn’t gotten much love during the two-year market rally:  the telecom sector.

“The [recent] AT&T/T-Mobile deal shined a light on a sector that has languished in recent years,” Reese writes. “Since the March 2009 low, the S&P 500 is up about 95%; the SPDR S&P International Telecom Sector exchange-traded fund, meanwhile, has made less than two-thirds of that gain, as investors have looked for flashier growth-oriented shares amid the market rebound.”

That, Reese says, has resulted in several bargains in the sector. “According to Morningstar, the SPDR S&P International Telecom ETF’s 45 holdings are trading for an average of 11.6 times prospective earnings and 1.32 times book value, and they’re yielding 5.5% — all of which are far better than the market average,” he writes.

Using his Guru Strategies, each of which is based on the approach of a different investing great, Reese takes a look at some of the best the sector has to offer, ranging from well-known U.S. telecom powers like Verizon to lesser-known international players like Millicom International Cellular. To read the full article, click here.