Financial ratings wrap-up: U.S. Cellular, Leap, Alcatel-Lucent 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
–RW Baird raised its estimates on U.S. Cellular Corp. after the carrier reported strong first quarter results. The firm raised its forecast on the company to EPS of $3.11 rather than $2.38 for 2007 and $3.31 rather than $2.96 for 2008.
–Lehman Brothers raised its price target on Leap Wireless International to $105 from $85.
–Lehman Brothers initiated coverage on MetroPCS Communications Inc. with an overweight rating and a $39 price target.
Handset and infrastructure vendors
–RW Baird lowered it estimates on Alcatel-Lucent after the company reported first-quarter results. New estimates are EPS of 54 cents rather than 61 cents for 2007 and 88 cents rather than 90 cents for 2008. Prudential Equity Group adjusted its EPS estimates on the company to 76 cents from 90 cents for 2007 and to $1.56 from $1.53 for 2007. Credit Suisse First Boston upgraded Alcatel-Lucent to outperform from neutral.
–CIBC World Markets tweaked its estimates on Motorola Inc. to reflect near-term sell-in challenges. For the second quarter it expects revenues of $9.2 billion rather than $9.4 billion.