The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
–First Albany Capital raised its price target on WPCS International Inc. to $16 from $14.50 after the company announced better-than-expected guidance for the fiscal 2008 year. The company also raised its estimates on WPCS to 88 cents on revenues of $106.5 million from 86 cents on revenues of $105 million for 2008.
–Avondale Partners downgraded Sierra Wirless to market perform from market outperform on valuation. Saying the company has a positive near-term outlook, Avondale raised its price target on Sierra from $19 to $25.
–CIBC World Markets tweaked its estimates on RF Micro Devices on the near-term impact from Motorola Inc. New estimates for 2008 are $879 million and 17 cents per share, down from $910 million and 22 cents per share. 2009 estimates decrease from $932 million and 27 cents from $971 million and 31 cents per share.
–RBC Capital Markets raised its price target on VeriSign Inc. to $35 from $31 on expectations the company will report in-line second-quarter results.
Financial ratings wrap-up: WPCS, Sierra Wireless, RF Micro Devices and more
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