American Tower Corp. (NYSE: AMT) is a top pick on Wall Street and is acknowledged as an industry leader. It is the largest global owner and operator of wireless and broadcast communications towers. Its portfolio includes approximately 170,000 sites in the United States, Latin America, India, Europe and Africa. The core business for the company is leasing space on its wireless towers, primarily to wireless carriers, government agencies and broadband data providers.
On a multiple basis, the stock trades cheaper than the competition, and many top analysts around Wall Street feel the growth potential for the company remains among the best in the industry.
American Tower stock investors receive a 2.11% distribution. The Goldman Sachs price target is $290. The consensus target is $280.39, and shares closed at $214.91 on Tuesday.
Equinix Inc. (NASDAQ: EQIX) is one of the larger companies in the data center arena. It provides data center services to protect and connect the information assets for the enterprises, financial services companies, and content and network providers primarily in the Americas, Europe, the Middle East, Africa and the Asia-Pacific.
The company provides colocation services and related offerings, including operations space, storage space, cabinets and power for customers colocation needs; interconnection services, comprising physical cross connect/direct interconnections, Equinix Internet Exchange, Equinix Cloud Exchange, Equinix Metro Connect and Internet connectivity services; and managed IT infrastructure services, including installation of customer equipment and cabling, as well as equipment rebooting and power cycling, card swapping and emergency equipment replacement services.
Investors receive a 2.11% distribution. Goldman Sachs has a towering target price of $830, but the consensus target is even higher at $845.29. Equinix stock closed most recently at $676.53 per share.
These six top companies are dominant players in their specific subsectors, and their shares offer more conservative growth stock investors outstanding short-term and long-term potential. Each has the ability to drive growth through numerous channels, and a reopening of the economy this year as the vaccine becomes ubiquitous should help propel that growth even more.