Financial ratings wrap-up: Qwest, Palm, F5 Networks and more
January 14 2009 - 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.
Carriers
--Morgan Stanley downgraded Qwest Communications to equal weight from overweight after recent outperformance on the stock market, limiting further outperformance potential.
--RBC Capital Markets downgraded Embarq to sector perform from outperform, saying its takeout premium has narrowed. The firm raised its price target on the company to $39 from $35.
Handset and infrastructure vendors
--Deutsche Bank upgraded Palm to hold from sell and raised its price target to $6 from $1, saying it is positive on the company’s new WebOS.
Other
--RBC Capital Markets lowered its price target on F5 Networks Inc. to $27 from $28 after the company posted a small revenue shortfall for December and lowered its guidance for the first quarter. Barclays Capital lowered its price target on the company to $27 from $29 and reduced its 2009 EPS estimate on the company to $1.50 from $1.68.
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