Financial ratings wrap-up: Telephone & Data, Motorola, 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
–Morgan Stanley upgraded Telephone & Data Systems to equal weight from underweight on better visibility due to relaxed deadlines for the company’s SEC filings and improving wireless prospects.
Handset and infrastructure vendors
–RBC Capital Markets upgraded Motorola Inc. to outperform, saying the company is displaying “firming” trends in its handset division. It also raised its price target on the company to $21 from $20.
–RBC Capital Markets lowered its price target on Nortel Networks, noting the company’s stock is at a four-year low. The company’s new price target is $22, down from $28.
Other
–Credit Suisse First Boston raised its price target on Qualcomm Inc., saying it expects the company to benefit from accelerating 3G adoption. New estimates are $1.97 rather than $1.96 for 2007 and $2.24 rather than $2.20 for 2008. CIBC World Markets raised its estimates on the company after the company raised its fourth-quarter guidance. New estimates are $2 from $1.97 for 2007 and $2.12 from $2.10 for 2008.
–Credit Suisse First Boston raised its price target on Texas Instruments to $45 from $43 on additional share repurchases and a 25% dividend hike.
–Standard & Poor’s Ratings Services rated American Tower Corp.‘s proposed $250 million unsecured notes BB+ and affirmed all of the other company’s ratings.
–CIBC World Markets raised its price target on Brightpoint to $18 from $16 after a meeting with management. CIBC noted handset demand for the third quarter is strong globally.
–Credit Suisse First Boston raised its estimates on RF Micro Devices to the high-end of the company’s guidance range based on checks at its key customers. New estimates are EPS of 19 cents on revenue of $962.1 million, up from 18 cents on $940.2 million for 2007.