Financial ratings wrap-up: AT&T, Leap, Research In Motion 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
–Lehman Brothers raised its price target on AT&T to $54 from $50 after the carrier provided upbeat long-term guidance. Credit Suisse First Boston raised its price target on the carrier to $50 from $48. The firm also raised its 2008 EPS estimates on the company to $3.18 from $3.14 but lowered its 2007 EPS estimate to $2.78 from $2.81.
–Morgan Stanley lowered its price target on Leap Wireless International Inc. to $76 from $85 to reflect economic slowdown, restatements and recent events. R.W. Baird raised its estimates on the company after Leap released third-quarter results. The firm’s new EPS estimate for 2007 is a loss of 47 cents rather than a loss of 61 cents and for 2008 is a loss of 28 cents rather than a loss of 37 cents.
Handset and infrastructure vendors
–Credit Suisse First Boston slightly lowered its EPS estimates on Research In Motion to $2.20 from $2.23 for 2008.
Other
–Standard & Poor’s Ratings Services cut its corporate credit rating on Crown Castle to BB- from BB. The outlook is negative. “The downgrade reflects our current expectation that Crown Castle’s management is comfortable operating at a higher level of leverage than was anticipated in our previous rating even though we had expected the company to remain aggressive in repurchasing common stock,” said Standard & Poor’s credit analyst Catherine Cosentino.