Financial ratings wrap-up: AT&T, Motorola, Syniverse 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
–Credit Suisse First Boston reduced its estimates on AT&T, saying the risks that it predicted in its telecom sector downgrade in February are beginning to come to fruition. The firm lowered its 2008 EPS estimate on AT&T to $2.99 from $3 and its 2009 estimates to $3.35 from $3.40. CSFB also adjusted its estimates on Verizon for the same reasons. New estimates for Verizon are $2.56 rather than $2.58 for 2008.
Handset and infrastructure vendors
–Credit Suisse First Boston reduced its second-quarter revenue estimates on Motorola due to weaker-than-expected handset demand and significant handset share loss. New estimates are $7 billion rather than $7.8 billion for the quarter. The firm also lowered its second-quarter revenue estimates on Nokia by 2% on handset demand concerns.
Other
–Oppenheimer raised its price target on F5 Networks strong pent-up demand and channel support for its upcoming entry level box refresh. Its new price target is $35 up from $25.
–R.W. Baird lowered its EPS estimate on Syniverse Holdings, saying the potential impact of the Verizon-Alltel merger is slightly worse than expected. The firm’s new 2009 EPS estimate on the company is $1.27, down from $1.30. Lehman Brothers lowered its price target on Syniverse to $22 from $24 and reduced its EPS estimate on the company to $1.44 from $1.60 for 2009.
–Lehman Brothers slightly increased its EPS estimate on RadioShack to $1.61 from $1.60 for 2008, saying the company’s trends continue to improve.
–RBC Capital Markets upgraded American Tower, Crown Castle and SBA Communications to outperform from perform, saying recent market corrections present an attractive entry point for investors in the tower sector.
–Lehman Brothers bumped its price target on Skyworks Solutions to $12 from $10 and raised its estimates to reflect handset share gains, healthy Linear demand and margin leverage. New estimates are 70 cents rather than 69 cents for 2008 and 89 cents rather than 75 cents for 2009.