Financial ratings wrap-up: Sprint Nextel, Research In Motion, Motorola 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
–Morgan Stanley cut its EPS estimate on Sprint Nextel to 82 cents for 2008 to reflect weak current operating results and WiMAX buildout costs. Credit Suisse First Boston lowered its 2007 revenue estimates $40.7 billion from $41.1 billion and EPS estimate to 85 cents from 96 cents. For 2008, it lowered its EPS estimate on the company to 80 cents from $1.15. R.W. Baird lowered its estimates on the carrier to 83 cents from 88 cents for 2007 and to 83 cents from $1.05 for 2008. Lehman Brothers lowered its estimates on Sprint Nextel to 83 cents from 95 cents for 2007 and to $1.00 from $1.07 for 2008. Standard & Poor’s Ratings Services placed Sprint Nextel’s long-term ratings on CreditWatch with negative implications.
Handset and infrastructure vendors
–Credit Suisse First Boston lowered its estimates on L.M. Ericsson after the company lowered forecasts.
–Credit Suisse First Boston raised its price target on Research In Motion to $100 from $70, saying it expects the company to continue to benefit from rapid smartphone growth and improving international traction. CSFB also raised its estimates on the company to $2.11 on revenues of $5.66 billion for 2008 from $1.96 on $5.34 billion and to $3.05 on $7.68 billion from $2.49 on $6.71 billion for 2009. Lehman Brothers raised its price target on RIM to $115 from $106. RBC Capital Markets raised its price target on RIM to $120 from $115.
–Lehman Brothers raised its price target on Motorola Inc. to $22 from $20 on solid third-quarter results and progress on new devices. CIBC World Markets raised its EPS estimates on Motorola to 18 cents from 15 cents for 2007 and to 62 cents from 57 cents for 2008.
Other
–Avondale Partners raised its price target on Plantronics Inc. to $35 from $30 on a favorable margin outlook.
–Lehman Brothers raised its price target on Broadcom Corp. to $39 from $37 on expected solid third-quarter results.
–CIBC World Markets raised its rating on Novatel Wireless Inc. to sector outperform and set a $33 price target for the company on solid third-quarter results and stronger-than-expected momentum in Europe.
–Broadpoint Capital lowered its estimates on Tellabs Inc. after the company preannounced disappointing third-quarter results. New estimates for 2007 are EPS of 24 cents on revenues of $1.967 billion from 29 cents on $2.012 billion. R.W. Baird lowered its estimates on the company to 18 cents from 30 cents for 2007 and to 24 cents from 45 cents for 2008.
–American Technology Research initiated coverage on RF Micro Devices with a buy rating and a $10 price target.