Financial ratings wrap-up: Sprint Nextel, RIM, RadioShack 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
–Raymond James lowered its price target on Sprint to $14 after the company pre-released weak fourth-quarter earnings. Morgan Stanley lowered its price target on Sprint Nextel to $13 from $15, saying the company faces a tough year ahead. The firm also lowered its 2008 EPS estimate on the company to 71 cents from 75 cents. R.W. Baird lowered its 2007 estimates on the company to 83 cents from 84 cents and its 2008 estimates to 48 cents from 79 cents. Baird also lowered its price target on the company to $10 from $19. RBC Capital Markets lowered its price target on the company to $12 from $18.
Handset and infrastructure vendors
–Credit Suisse First Boston upgraded its rating on the U.S. wireless equipment sector to overweight from market weight, saying it believes the market will experience stable handset industry revenue growth this year.
–Oppenheimer upgraded Research In Motion to outperform from perform and set a $115 price target on the company. The firm said it believes RIM has the best growth profile in the sector.
–RBC Capital Markets lowered its price target on Alcatel-Lucent to $7 from $12 and lowered its estimates on the company, saying 2008 might provide limited growth opportunities in wireless infrastructure.
Other
–Baird Equity Research raised its estimates on Syniverse Holdings after the company released preliminary 2007 estimates that were above estimates. The firm’s new estimates on Syniverse are EPS of 98 cents rather than 92 cents for 2007 and $1.15 rather than $1.04 for 2008.
–RBC Capital Markets lowered its price target on RadioShack to $17 from $22 and reduced its 2008 EPS estimate to $1.70 from $1.90, based on expectation for a recessionary spending environment in 2008.
–Credit Suisse First Boston increased its estimates on Skyworks Solutions on strong quarterly results. New expectations are 64 cents on $832.9 million, up from 58 cents on $820 million. Lehman Brothers lowered its price target on the company to $10 from $11 but increased its estimates on the company to 66 cents from 59 cents for 2007.