Financial ratings wrap-up: Nortel, Sierra Wireless, VeriSign 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
–Standard & Poor’s Ratings Services said it does not expect the FCC’s upcoming wireless spectrum auction to affect the ratings of U.S. wireless carriers despite controversy over open access requirements.
Handset and infrastructure vendors
–RBC Capital Markets lowered its price target on Nortel Networks to $18 from $22, saying the company’s multiples continue to contract.
–RBC Capital Markets lowered its price target on Alcatel-Lucent to $12 from $14, saying some segments are doing well but overall more work still needs to be done to turn the company around. New EPS estimates are 6 cents rather than 11 cents for 2007 and 45 cents rather than 50 cents for 2008.
Other
–Lehman Brothers adjusted its estimates on Sierra Wireless to $1.06 from $1.05 for 2007saying overall data card demand remains strong. However it slightly lowered its estimates for 2008 to $1.31 from $1.32.
–Broadpoint Capital trimmed its estimates on Atheros Communications due to lost business at Apple. The firm noted a cellphone design win at Research in Motion that mitigates the impact of the Apple business. New estimates are $1.01 on $414.3 million in revenues for 2007, down from $1.02 on $421.3 million. For 2008, estimates change to $1.25 on $503 million from $1.18 on $505 million.
–Broadpoint Capital reiterated its Buy rating and $39 price target on InterDigital Communications after the company announced it extended its 2G/2.5G patent licensee agreement with Research In Motion.
–Lehman Brothers tweaked its estimates on Verisign Inc. to reflect a change in its share count assumption. The company lowered its EPS estimate on Verisign to $1.04 from $1.07 for 2007.