Financial ratings wrap-up: Leap, U.S. Cellular, Qualcomm and more

The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Carrier
–Credit Suisse First Boston lowered its price target on Leap Wireless International to $90 from $95 after the carrier offered weaker-than-expected guidance for the third quarter. R.W. Baird lowered its price target on the carrier to $90 from $103 and lowered its estimates on the company to a loss of 11 cents rather than a return of 30 cents for 2007 and profit of 33 cents rather than profit of 90 cents for 2008. Morgan Stanley lowered its price target on the carrier to $85 from $94.
–R.W. Baird raised its estimates on United States Cellular Corp. after the carrier reported solid second-quarter results. The firm now expects EPS of $4.04 rather than $3.11 for 2007 and $3.52 rather than $3.31 for 2008.
–Lehman Brothers raised its estimates on Sprint Nextel to 95 cents from 88 cents for 2007 and to $1.07 from 94 cents for 2008 after the carrier reported in-line second-quarter results. R.W. Baird lowered its 2008 EPS estimate on the company to $1.05 from $1.06.
Other
–Lehman Bros. raised its 2008 estimates on Qualcomm Inc. to $2.10 from $1.98 following a meeting with management. The firm said it increased its estimates to reflect demand trends.
–R.W. Baird upgraded ADC Telecommunications Inc. to outperform and raised its price target to $19 on a stronger second-half outlook.
–RBC Capital markets lowered its price target on InfoSpace Inc. to $20 from $25 after the company reported second-quarter results that were below expectations. The firm also lowered its 2007 revenue estimate on the company to $263 million from $276.6 million.