Financial ratings wrap-up: Palm, Texas Instruments, Syniverse and more

The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Handset and infrastructure vendors
–RBC Capital Markets lowered its price target on Palm Inc. after the company warned its second-quarter results will likely come in below expectations. RBC’s new price target on Palm is $6, down from $7. In addition, it cut its fiscal year 2008 estimates on the company to breakeven EPS on revenues of $1.473 billion, down from 13 cents on $1.501 billion. Credit Suisse First Boston lowered its estimates on the company to a loss of 11 cents from a return of 9 cents for 2008. Lehman Brothers dropped its 2008 estimate on the company to a loss of 10 cents from a return of 10 cents per share, and for 2009 it dropped its EPS estimate one cent to 7 cents per share.
Other
–Lehman Brothers raised its estimates on Texas Instruments after the company edged guidance toward the upper half of its prior range. New estimates are $1.81, up from $1.76, for 2007 and $2.16, up from $2.15, for 2008.
–Baird Equity Research adjusted its estimates on Syniverse Holdings Inc. to reflect its acquisition of BSG Wireless. The firm raised its 2008 EPS estimate on the company to $1.04 from $1.02.
–CIBC World Markets raised its estimates on CommScope after the company reported better-than-expected fourth-quarter results. New estimates are $2.80 on revenues of $1.91 million from $2.76 on $1.90 billion for 2007. For 2008, estimates increase to $3.08 on $2.02 billion from $3.06 on $2.01 billion. R.W. Baird raised its estimates on the company to $2.81 from $2.77 for 2007 and to $3.06 from $3.04 for 2008.