The choppy/consolidating (or perhaps worse) market conditions sometimes give the impression that growth plays do not exist, but that is not the case, and one growth company worth reviewing is American Movil SA.

American Movil S.A.B de C.V. (ADR) (NYSE: AMX) is the largest wireless service provider in Latin America, and one of the 10 largest in the world.

Analysts see 2008 revenue rising of 15-20%, after a 32% increase in 2007. Further, analysts also like the company's successful expansion to 13 other markets in the region, to go along with its two key markets: Brazil and Mexico.

Hence, analysts also really like AMX's current subscriber base -- a remarkable 153 million in 2007 -- and its projected subscriber growth rate of 12-15% for 2008, and 10-13% for 2009.
Operating costs remain reasonable; margins are solid. The Reuters FY 2008/FY 2009 EPS consensus estimates for AMX are $3.90 to $4.76.

The risks? Analysts are keeping an eye on political developments in the region that may change AMX's operating environment.

The First Call mean rating for AMX is: Buy [13 firms] Mean 2008 target: $80 [high: $91, low: $63].

Stock Analysis: American Movil SA is a moderate-risk stock not suitable for low-risk investors. Investors with an investment horizon longer than 2 years should be rewarded from AMX's shares. Sell / Stop Loss if you were to purchase shares in this company: $37.

Disclosure: Lazzaro has no positions in stocks. In addition to private real estate holdings, he owns corporate and municipal bonds, and cash certificates of deposit.