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
–Lehman Bros. raised its 2010 EPS estimate on Research In Motion to $3.48 from $3.45 after the company preannounced mix fourth-quarter results. Credit Suisse First Boston downgraded the company to underperform from neutral and lowered its price target to $37 from $45 on lower smartphone estimates. The firm also cut its EPS estimate on the company to $2.94 for 2010.
–Credit Suisse First Boston started coverage on Palm Inc. with an outperform rating and an $11 price target.
Other
–Credit Suisse First Boston initiated coverage on Brightpoint Inc. with a neutral rating and a $5.50 price target.
–RW Baird lowered its 2009 estimates on Syniverse Holdings after the company reported solid fourth-quarter results. The firm’s new estimates are EPS of $1.36 on revenues of $468.8 million from $1.41 on revenues of $484.2 million. RW Baird noted slower roaming trends due to the economy and potential negative impacts of the Verizon-Alltel merger.
Financial ratings wrap-up: RIM, Palm, Brightpoint and more
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