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Financial ratings wrap-up: Sprint Nextel and Ericsson

November 26 2008 - 6:00 am ET | Kristen Beckman | RCR Wireless News

The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.

Carrier

--Barclays Capital lowered its price target on Sprint Nextel to $5 from $10 an lowered its 2009 EPS estimate to a loss of 13 cents rather than a profit of 8 cents. The changes are a result of customer erosion and upward pressures on service costs due to data traffic growth.

Handset and infrastructure vendors

--Credit Suisse First Boston downgraded Ericsson to underperform from outperform on wireless infrastructure downturn.



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