Financial ratings wrap-up: AT&T, Nokia, InterDigital 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
–Morgan Stanley raised its EPS estimates on AT&T Inc. on a strong outlook for wireless data revenues. New estimates for 2008 are $3.16 up from $3.14 and for 2009 are $3.48 from $3.45.
Handset and infrastructure vendors
–Lehman Brothers downgraded Palm Inc. to underweight from equal weight on softening Treo demand. The firm also lowered its price target on the company to $12 from $13.
–Goldman Sachs raised its price target on Motorola Inc.to $18 from $16 after company management outlined plans to improve profitability in its device unit.
–Credit Suisse First Boston raised its estimates on Nokia Corp., saying it believes device profitability at the company is sustainable. CIBC World Markets raised its EPS estimates on Nokia to $1.82 from $1.80 for 2007.
–Credit Suisse First Boston lowered its 2008 estimates on Apple Inc. to reflect changes the company made to its iPhone pricing. Estimates move to $6.8 billion from $7.3 billion and EPS estimates drop to $4.50 from $4.66.
Other
–Avondale Partners upgraded Syniverse Technologies Inc. to market outperform from market perform and increased its price target to $19 from $15.
–First Albany Capital raised its estimates on InterDigital Communications Corp. after the company signed a patent license agreement with Apple. 2007 estimates increase to 54 cents on $236.3 million from 50 cents on $232.4 million. 2008 estimates increase to 87 cents on $245.4 million from 77 cents on $237.4 million.
–CIBC World Markets raised its estimates on RF Micro Devices Inc., saying its checks show handset shipments at key customers are tracking well. Fiscal year 2008 estimates increase to revenues of $958 million from $951 million and EPS of 26 cents from 25 cents. 2009 estimates increase to $1.09 billion from $1.08 billion and EPS of 36 cents from 35 cents.
–Credit Suisse First Boston upgraded Infineon Technologies to outperform from neutral, saying the company’s revenue opportunity at Nokia for its ULC solution is strong.