Financial ratings wrap-up: Alcatel-Lucent, Research In Motion, F5 Networks and more

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
–R.W. Baird upgraded Tellabs to outperform on deeply discounted valuation and the possibility for improved financial prospects next year.
–Credit Suisse First Boston cut its price target and estimates on Alcatel-Lucent on weakness in North America. The firm cut its price target to 7 Euros from 7.50 Euros. New EPS estimates are 0.17 Euros for 2008 and 0.47 Euros for 2009. RBC Capital Markets lowered its price target on the company to $5 from $6.
–Deutsche Bank initiated coverage on Alvarion with a buy rating and an $8 price target.
–Oppenheimer lowered its price target on Research In Motion to $90 from $100 after the company delivered in-line quarterly results but a disappointing earnings outlook. RBC Capital Markets downgraded the company to sector perform from sector outperform and dropped its price target on RIM to $90 from $165. The firm also assigned new estimates to the company, lowering its 2009 EPS estimate to $3.62 from $3.84 and its 2010 EPS estimate to $4.68 from $6. Credit Suisse First Boston upgraded RIM to neutral from underperform, saying the company’s deceleration is now priced in to its stock. The firm also cut its price target on the company to $80 from $100 and lowered its estimates to $3.64 for 2009 and $4.58 for 2010. Deutsche Bank downgraded RIM to sell from hold and lowered its price target to $70 from $120.
–RBC Capital Markets lowered its rating and price target on Apple to sector perform from outperform and to $140 from $200. The company blamed a worsening consumer market for the changes.
Other
–Goldman Sachs lowered its 2008 EPS estimates on Qualcomm to reflect potentially slower growth in the handset market.
–McAdams Wright Ragen upgraded F5 Networks to buy from hold, saying short-term concerns have created a strong disconnect between the company’s long-term fundamentals and current valuation. RBC Capital Markets reduced its estimates on the company to $1.69 from $1.72 on concerns about technology spending.