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 lowered its price target on Motorola Inc. to $10 from $12. The firm also cut its unit estimates on the company to 32 million from 34 million and lowered its revenue and earnings estimates to $8 billion from $8.3 billion and to a loss of 4 cents from a loss of 1 cent.
Other
–Oppenheimer downgraded Novatel Wireless to perform from outperform and removed its $17 price target following preannouncement of weaker-than-expected first-quarter results. New estimates are 99 cents rather than $1.30 for 2008 and $1.32 rather than $1.54 for 2009. Avondale downgraded Novatel to market perform from outperform on the news. The firm also lowered its revenue and EPS estimates on the company to $1.12 and $449.3 million from $1.47 and $500.3 million for 2008.
