The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Click here for wireless ratings from past weeks from RCR Wireless News.
Carrier
Standard & Poor’s Ratings Services revised its outlook on Dobson Communications Corp. and its subsidiaries to positive from developing and affirmed its B- corporate credit rating. “The outlook revision reflects improvement in operating trends during 2006, after a challenging 2005,” said Standard & Poor’s credit analyst Susan Madison.
Handset and infrastructure vendors
Credit Suisse First Boston lowered its price target and estimates on Palm Inc. after the company reduced its guidance for the current quarter. The company’s new price target is $16, down from $17. Its estimates drop to 73 cents per share on $1.6 billion in revenues from 90 cents on $1.7 billion in revenues for 2007, and to 88 cents on $1.8 billion in revenues from $1.06 and $2 billion in revenues for 2008. RBC Capital Markets also lowered its price target on the company to $15 from $16. RBC’s estimates on Palm drop to 73 cents per share from 90 cents for 2007 and to 84 cents from 96 cents for 2008.
BMO Capital Markets lowered its rating on Research In Motion Ltd. to market perform from outperform on valuation.
Other
Lehman Brothers lowered its price target on Tellabs to $12 from $12.75 and lowered its estimates to 52 cents from 53 cents for 2007 and to 59 cents from 63 cents for 2008. First Albany Capital downgraded Tellabs to neutral from buy based on potential new competition from Ericsson and margin pressure in 2007. First Albany also lowered its EPS estimates on the company to 53 cents from 54 cents for 2006 and to 55 cents from 59 cents for 2007.
Credit Suisse First Boston revised its estimates on NeuStar after the company announced plans to acquire Followap. For 2007 it expects EPS of $1.31 on $428.9 million in revenue, rather than $1.35 and $404.3 million.
