Financial ratings wrap-up: Sprint Nextel, Research In Motion, Crown Castle 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
–RBC Capital Markets lowered its price target on Embarq to $60 from $67 after the company reported in-line third-quarter results.
–R.W. Baird lowered its estimates on Sprint Nextel after the carrier reported disappointing third-quarter results. The firm lowered its 2008 estimate on the company to 79 cents from 83 cents. Lehman Brothers lowered its estimates on the company to 82 cents from 83 cents for 2007 and to 92 cents from $1 for 2008. Credits Suisse First Boston lowered its estimates on the company to 84 cents from 85 cents for 2007.
–Pali Research downgraded Clearwire to sell and lowered its price target to $15 on concerns about PC card sales.
–Credit Suisse First Boston lowered its price target on Qwest Communications to $8 from $9 on weaker-than-expected financial results. The firm also lowered its estimates on the company to 58 cents from 60 cents for 2007 and to 67 cents from 87 cents for 2008. Lehman Brothers lowered its estimates on the company to 55 cents from 59 cents for 2007 and to 46 cents from 74 cents for 2008. Morgan Stanley lowered its estimates on Qwest to 55 cents from 59 cents for 2007, to 37 cents from 40 cents for 2008 and to 39 cents from 40 cents for 2009.
–Morgan Stanley resumed coverage on MetroPCS and raised its rating on the company to overweight from equal weight on attractive upside potential. Morgan Stanley set a price target of $33 on the carrier.
Handset and infrastructure vendors
–R.W. Baird adjusted its estimates on Alcatel-Lucent after the company reported in-line third-quarter revenues. New estimates are 30 cents from 27 cents for 2007 and 44 cents from 53 cents for 2008.
–Credit Suisse First Boston upgraded Research In Motion to outperform from neutral and raised its price target to $160 from $100 on expectations for strong smartphone market growth and improving international traction.
Other
–Morgan Stanley raised its price target on SBA Communications to $39 from $37 after the company reported strong quarterly results. RBC Capital Markets raised its price target on the company to $40 from $37.
–Broadpoint Capital raised its estimates on InterDigital Communications to 59 cents on revenues of $236.4 million from 54 cents on $236.3 million for 2007 after the company reported strong third-quarter results.
–Broadpoint Capital slightly increased its revenue estimate on Alvarion to $233.3 million from $233.1 million for 2007 after the company reported in-line third-quarter results.
–Morgan Stanley increased its price target on Crown Castle to $47 from $45 on optimism about the company’s leasing outlook. RBC Capital Markets raised its price target on the company to $46 from $44.
–Credit Suisse First Boston lowered its price target on RealNetworks to $8 from $9 after the company reported third-quarter results. CSFB also adjusted estimates on the company to 28 cents on revenues of $567 million in revenues from 24 cents on $569 million for 2007 and dropped its EPS estimate on the company to 9 cents from 12 cents for 2008.
–R.W. Baird adjusted its estimates on Andrew Corp. on concerns about margin pressure. The firm’s new 2008 EPS estimate on the company is 50 cents rather than 65 cents.