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

--R.W. Baird lowered its estimates on Nortel Networks after the company lowered its guidance. New estimates are a loss of 6 cents rather than profit of 29 cents for 2008 and a return of 20 cents rather than 70 cents for 2009. Lehman Brothers lowered its price target on Nortel to $3 from $6 and cut its estimates to a loss of 7 cents rather than a profit of 38 cents for 2008 and to 30 cents from 60 cents for 2009.

--Credit Suisse First Boston raised its estimates on Research In Motion on a trend of subsidy reallocation toward smart phones. The firm’s new 2008 EPS estimate on RIM is $3.71 and its 2009 estimate is $4.80.

--Credit Suisse First Boston cut its estimates on both Ericsson and Nokia on difficult handset conditions.

--RBC Capital Markets raised its price target on Palm to $8 from $5, saying it believes its quarterly results to beat estimates. The firm noted, however, that the company still faces challenges. RBC also raised its estimates on the company to a loss of 36 cents rather than a loss of 37 cents for 2009 and profit of 10 cents rather than 6 cents for 2010.

Other

--Avondale Partners upgraded Novatel Wireless to market perform on valuation.

--Credit Suisse First Boston lowered its estimates on Qualcomm on expectations for lower handset industry volume. New estimates are $2.23 rather than $2.25 for 2008; $2.76 rather than $2.90 for 2009; and $3.18 rather than $3.31 for 2010.

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