The video below is part of The Motley Fool's "11 O'Clock Stock" series, where we recommend a new stock every weekday at 11 a.m. ET on Fool.com over 50 weekdays. To see a video of co-founder Tom Gardner explaining the series, click here. To see our original recommendation of Telefonica (NYSE: TEF)click here.

Investors have been fleeing European stocks as concerns have mounted over sovereign debt levels on the continent. Fool analyst Jordan DiPietro says there are legitimate concerns about that debt, however, a lot of stocks have been battered unfairly, and foreign telecoms happen to be an area that looks particularly attractive. DiPietro thinks Telefonica, which is a Spanish company, has some great prospects and is trading at a really reasonable price. To see DiPietro's full thoughts on Telefonica, watch the video, then read on below: