Financial ratings wrap-up: Leap, MetroPCS, Sprint Nextel 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 lowered its price target on Leap Wireless to $55 from $70 despite solid third-quarter results and positive fourth-quarter trends. CSFB said the lowered price target is due to the higher cost of capital. R.W. Baird adjusted its estimates on Leap to a loss of $2.24 from a loss of $2.34 for 2008 and to a loss of $2.78 from a loss of $2.53 for 2009. Barclays Capital dropped its price target on Leap to $36 from $60 and cut its EPS estimates to a loss of $2.16 from a loss of $1.61 for 2008 and to a loss of $1.58 from a loss of $1.28 for 2009.
–RBC Capital Markets lowered its price target on MetroPCS to $19 from $20 on mixed third-quarter results. R.W. Baird lowered its EPS estimates on the company to 49 cents from 51 cents for 2008 and to 47 cents from 57 cents for 2009. Barclays Capital cut its price target on the carrier to $20 from $27 but raised its EPS estimates to 46 cents rather than 45 cents for 2008 and to 63 cents from 52 cents for 2009.
–Barclays Capital lowered its price target on Sprint Nextel to $10 from $11 after the carrier reported weak third-quarter results. It also cut its estimates on the carrier to 4 cents rather than 9 cents for 2008 and to 8 cents from 18 cents for 2009. R.W. Baird lowered its estimates on the carrier to 7 cents from 13 cents for 2008 and to a loss of 21 cents rather than profit of 12 cents for 2009. Deutsche Bank lowered its price target on Sprint Nextel to $6 from $9.
–Barclays Capital lowered its EPS estimates on Ntelos to $1.28 from $1.34 for 2008 and to $1.70 from $1.89 for 2009 after the company reported third-quarter results that were in-line with expectations.
–McAdamsWright Ragen lowered its price target on Clearwire to $13 from $17 after the company reported third-quarter results.
Handset and infrastructure vendors
–R.W. Baird lowered its estimates on Nortel Networks on liquidity concerns. New estimates are a loss of 25 cents rather than loss of 6 cents for 2008 and a loss of $1.40 rather than profit of 20 cents for 2009.
Other
–Morgan Stanley lowered its price target on Crown Castle to $35 from $38 after the company reported solid third-quarter results. The price target cut is a result of changes in its cost of debt models. RBC Capital Markets raised its price target on Crown Castle to $27 from $26
–Oppenheimer cut its price target on Qualcomm to $45 after the company provided an unexpectedly poor outlook for 2009. Deutsche Bank cut its price target on Qualcomm to $40 from $70 to reflect inventory slowdown.
–Oppenheimer lowered its price target on Skyworks to $12 from $13 on macro economic concerns. The firm said Skyworks delivered another strong quarter and an outlook that reflects upside.
–R.W. Baird downgraded Syniverse Holdings to neutral despite strong third-quarter results because of several negative revenue impacts that are expected in 2009. The firm also lowered its price target on Syniverse to $16 from $21. New EPS estimates for 2008 and 2009 are $1.49 and $1.41 from $1.47 and $1.51. Deutsche Bank lowered its price target on Syniverse to $20 from $22.
–Credit Suisse First Boston raised its estimates on American Tower after the company reported solid third-quarter results. The firm bumped its 2008 EPS estimate to 52 cents from 47 cents and increased its 2009 EPS estimate to 62 cents from 61 cents.
–RBC Capital Markets lowered its price target on InfoSpace to $10 from $12 after the company reported solid third-quarter results but guidance for lower RPQ rates in the fourth quarter.