Financial ratings wrap-up: Verizon, AT&T, Apple 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 Verizon to $30 from $31 on in-line third-quarter financial results. R.W. Baird lowered its 2009 EPS estimate on the company to $2.78 from $2.85. Barclays Capital lowered its price target on Verizon to $40 from $44 and reduced its EPS estimates on the company to $2.58 from $2.60 for 2008 and to $2.72 from $2.82 for 2009.
–R.W. Baird lowered its estimates on AT&T after the carrier reported earnings that show margin pressure. New estimates are $2.84, down from $2.90, for 2008, and $2.90, rather than $3.01, for 2009. Barclays Capital lowered its price target on AT&T to $37 from $41 and cut its estimates to $2.83 from $2.93 for 2008 and to $3.04 from $3.20 for 2009. Deutsche Bank lowered its price target on AT&T to $36 from $39.
Handset and infrastructure vendors
–Credit Suisse First Boston lowered its price target on Motorola to $6.50 from $8 on overall economic concerns.
–RBC Capital Markets lowered its price target on Apple to $125 from $140 on lower-than-expected fourth-quarter results and an uncertain outlook. The firm also lowered its EPS expectations for the company to $5.07 from $5.47 for 2008 and to $6.51 from $6.95 for 2009. Barclays Capital lowered its price target on Apple to $125 from $135, increased its 2008 EPS estimate to $5.36 from $5.21 and lowered its 2009 EPS estimate to $5 from $5.65.
Other
–RBC Capital Markets lowered its price target on Sierra Wireless to $10 from $15 on expectations of in-line third-quarter results and sustained elevated risk.
–R.W. Baird upgraded Broadcom to outperform from neutral, saying it expects the company to gain market share in mobile phones and other segments. The firm lowered its EPS estimates on the company to $1.66 from $1.72 for 2008 and to $1.19 from $1.60 for 2009. Credit Suisse First Boston lowered its estimates on Broadcom on decreased guidance. New estimates are $1.10 on revenues of $4.64 billion from $1.10 on revenues of $4.73 billion for 2009. Barclays Capital lowered its price target on Broadcom to $21 from $22 but increased its EPS estimates on the company to $1.67 from $1.63 for 2008 and to $1.38 from $1.34 for 2009.
–R.W. Baird raised its estimates on Tellabs on improving fundamentals. New estimates are 17 cents rather than 14 cents for 2008 and 13 cents rather than 11 cents for 2009. Barclays Capital lowered its price target on Tellabs to $4.50 from $6.50 and adjusted its EPS estimates on the company to 21 cents rather than 15 cents for 2008 and to 15 cents rather than 28 cents for 2009.