Jefferies shared with its clients the firm's best current telecommunications stock picks.

The firm looked for companies with below average Wall Street coverage and where its analysts are particularly optimistic over the stock's fundamentals.

"Jefferies Franchise Picks include stock selections from among the best stock ideas from our equity analysts over a 12 month period. Stock selection is based on fundamental analysis and may take into account other factors such as analyst conviction, differentiated analysis, a favorable risk/reward ratio and investment themes that Jefferies analysts are recommending."

Here are five buy-rated telecom companies that made the Jefferies recommended list and their price targets