R.W. Baird raised its Verizon EPS estimate following the pending acquisition of Alltel, but lowered its estimates on AT&T following the introduction of iPhone 2 and related subsidization scheme implying lower earnings. It logically raised by 16% its price target on Apple to $234.
Oppenheimer downgraded Motorola to underperform with doubts on management’s guidance for flat to slightly better handset 2Q08 shipments.
Nortel confirms outlook for 2008, expecting revenue to grow in the low single digits. Paradigm Capital believes Nortel is undervalued, after solving all of its issues (lawsuits, restatements, ...).
Telkom (S. Africa) reports 2007 revenues increased by 9% to $7.2bn and EBITDA rose 4% to $2.6bn. Net income fell about 8% to $1bn. Telkom examines two bids, one from Vodafone to buy its mobile unit Vodacom, and another from an equity firm, led by tycoon Tokyo Sexwale, for its fixed line business. Vodacom reported a net profit up 21% to $1bn on revenues up 17% to $6.1bn.
DT maintains its 2008 outlook with EBITDA of €19.3bn, same as in 2007.