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The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
- Carrier
- Robert W. Baird raised its price target and estimates on Alltel Corp. after the carrier reported strong fourth-quarter results. The new price target is $63, up from $56. New EPS estimates for 2007 are $2.80, up from $2.48. Credit Suisse First Boston raised its 2007 EPS estimate on the company to $2.97 from $2.91 and raised its price target to $58 from $52. Prudential Equity Group raised its 2007 EPS estimate on the company to $2.90 from $2.80.
- RBC Capital Markets raised its price target on Dobson Communications to $12 from $11 after the carrier reported strong fourth-quarter results. RBC also raised its estimates on Dobson to $1.39 billion in revenues for 2007.
Handset and infrastructure vendors - Credit Suisse First Boston lowered its 2007 and 2008 estimates on Motorola Inc., while maintaining its outperform rating on the company, based on challenges in the handset business that are likely to persist near-term. The firm’s new EPS estimate for the company for 2007 is 95 cents, down from $1.13. For 2008 it expects EPS of $1.34 rather than $1.43.
Other - Robert W. Baird raised its estimates on NeuStar Inc. following the company’s solid fourth-quarter earnings report. Baird predicts NeuStar will report EPS of $1.32 for 2007, up from its previous estimate of $1.07.
- Robert W. Baird lowered its estimates on Powerwave Technologies Inc. after the company provided lower-than-expected guidance for 2007 revenues. Baird now expects Powerwave to report revenues of $750 million for 2007, down substantially from its previous estimate of $865 million. Baird also dropped its price target on Powerwave to $5 from $6. Credit Suisse First Boston lowered its price target on Powerwave to $6 from $7 and dropped its estimates to $758 million in revenues for 2007, down from $950 million. 2008 revenue estimates drop to $925 million from $1.05 billion. CSFB also lowered its EPS estimates on the company to a loss of 22 cents rather than a return of 21 cents for 2007 and profit of 19 cents rather than 36 cents for 2008. CIBC World Markets cut its 2007 revenue and EPS estimates on Powerwave to $738.9 million and a loss of 52 cents per share from $885.4 million and 7 cents per share. Goldman Sachs lowered its price target on the company to $6.50 from $7.25.
- RBC Capital Markets raised its price target on American Tower Corp. to $45 from $40 after the company reported strong fourth-quarter results. Lehman Bros. raised its price target on American Tower to $47 from $46. Morgan Stanley raised its price target on the company to $48 from $43.
- CIBC World Markets upgraded Brightpoint to sector outperform from sector perform on news the company acquired privately held Dangaard.
