Financial ratings wrap-up: Ericsson, TI, American Tower 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
–Barclays Capital adjusted its estimates on Ericsson after the company reported strong third-quarter results but flat guidance for 2009. New estimates are 79 cents for 2008, up from 68 cents, and 77 cents down from 79 cents for 2009.
–Oppenheimer cut its price target on Nokia to $22 from $26 after the company delivered in-line results for the third quarter.
Other
–JP Morgan lowered its estimates on Texas Instruments after the company reported disappointing quarterly results. The company now predicts EPS of $1.62 on revenues of $13 billion for 2008 from EPS of $1.73 on $13.4 billion. 2009 estimates drop to $1.25 on $11.6 billion in revenues from $1.83 on $14 billion. R.W. Baird lowered its price target on TI to $17 from $26 and cut its EPS estimates to $1.76 from $1.87 for 2008 and to $1.40 from $1.83 for 2009.
–JP Morgan trimmed its estimates on Novatel Wireless and Sierra Wireless on concerns about on slowing enterprise and consumer wireless spending.
–Barclays Capital lowered its price target on American Tower to $46 from $49, saying there is risk to the company’s 2009 revenue outlook due to weakness in Latin and South American currencies.