American Tower raises 2026 outlook on strong 5G, AI growth and data center demand, with 53% total return potential.

American Tower benefits from robust growth in 5G and AI infrastructure spending, alongside an 18.4% year-over-year increase in data center revenue. The company’s strong demand from major US carriers, which make up 42% of its revenue, supports its positive first quarter 2026 performance and led to an upgraded full-year 2026 guidance. Despite trading at a discounted valuation due to temporary concerns over customer churn and satellite competition, the firm is projected to deliver a total return of 53.1%, driven by capital appreciation and dividend growth above sector averages. This makes American Tower an attractive buy opportunity for investors.