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5 Telecom Picks for 2012

5. American Tower (AMT - Get Report) has over 40,000 broadcast and wireless communications sites in the U.S., Brazil, Chile, Colombia, Ghana, India, Mexico, Peru and South Africa.

Of the 23 analysts covering the stock, 91% recommend a buy and 4% suggest a hold. Analysts' average 12-month price target for the stock is $65.35, about 11.5% higher than the current price, according to Bloomberg.

For the third quarter of fiscal 2011, AMT reported total revenue of $630.4 million, an increase of 22.8%. Total rental and management revenue increased 23% to $614.8 million. Adjusted EBITDA rose 14.5% to $400.6 million, and operating income grew 7% to $228.3 million.

Revenue from the company's international rental and management division amplified 78.9% to $178 million, or 28% of total revenue. Furthermore, gross margin of the division increased 61.4% to $113.2 million, while operating profit improved 60.2% to $91.5 million.

American Tower recently announced a definitive agreement with MTN Group for establishing a new joint venture tower company in Uganda, which will acquire about 1,000 existing tower sites from MTN Group's operating subsidiary in Uganda for over $175 million. American Tower will be the major shareholder of ATC Uganda with a 51% holding. The transaction also involves ATC Uganda constructing 280 tower sites for MTN Uganda over the next three years.

For fiscal 2011, the company expects adjusted EBITDA of $1.58 billion to $1.60 billion.

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CCI $84.39 -0.50%
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