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

--RBC Capital Markets upgraded Alcatel-Lucent to sector perform from underperform. R.W. Baird lowered its estimates on the company after the company announced a strategic realignment. New estimates are EPS of 37 cents rather than 42 cents for 2008 and 6 cents rather than 34 cents for 2009. Standard & Poor’s Ratings Services placed Alcatel-Lucent’s BB- long-term corporate credit rating on CreditWatch with negative implications. “The CreditWatch placement follows Alcatel Lucent's strategy and outlook update today, including the company's forecasts of an 8% to 12% drop in its revenues in 2009, at constant currencies," said Standard & Poor's credit analyst Patrice Cochelin.

Other

--Barclays Capital upgraded Tellabs to overweight from equal weight and bumped its price target to $6.50 from $5, noting it is positive on the company’s recovery. Estimates, however, dropped to 20 cents from 21 cents for 2008 and to 3 cents from 13 cents for 2009, on macro pressures.

--Barclays Capital lowered its price target on Texas Instruments to $16 from $17 on a challenging near-term outlook. The firm also lowered its 2009 EPS estimate on the company to 20 cents from 55 cents.

--Oppenheimer slightly lowered its estimates on F5 Networks on only slight weakness in channel checks. New estimates are EPS of $1.65 on revenues of $709.3 million instead of EPS of $1.94 on revenues of $719.3 million. R.W. Baird lowered its rating on F5 to neutral and lowered its price target to $23 on the global capex slowdown.

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