The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Carrier
–Standard & Poor’s Ratings Services placed its ratings on SunCom Wireless on CreditWatch with positive implications. The move follows T-Mobile USA’s definitive agreement to acquire the company.
Handset and infrastructure vendors
–Lehman Brothers lowered its price target on L.M. Ericsson to $44. from $47 on lack of near-term upside. The firm noted the company is well positioned to benefit from prolonged revenue growth.
–RBC Capital Markets raised its price target on Research In Motion to $110 from $83 on robust product momentum, affordable BlackBerry data plans and continued competitive advantages.
–R.W. Baird lowered its price target on Alcatel-Lucent to $9 from $13 after the company lowered revenue guidance due to a change in outlook at U.S. wireless customers.
–Credit Suisse First Boston lowered its estimates and price target on Nortel Networks, saying it believes the company remains too large and suffers from too much legacy product market exposure. The company’s new price target is $16, and 2007 estimates drop to $11 billion and 37 cents per share.
Other
–Morgan Stanley upgraded American Tower Corp. to overweight from equal weight following underperformance of the company’s stock.
