Microsoft: Analysts' Upgrades, Downgrades

NEW YORK (TheStreet) -- CHANGE IN RATINGS

Alcoa (AA Quote) rated new Underweight at HSBC Securities. $11 price target. Stock looks expensive relative to other mining plays, based on forward earnings.

Avery Dennison (AVY Quote) upgraded at Merrill/BofA from Underperform to Buy. $38 price target. See the company as an early-cycle beneficiary.

Allegheny Energy (AYE Quote) downgraded at Jefferies from Buy to Hold. $28 price target. Valuation call. Estimates also cut, to reflect lower market heating rates.

Boston Scientific (BSX Quote) downgraded at UBS from Buy to Neutral. $12 price target. Valuation call, as margins will likely not return to previous highs.

Biovail (BVF Quote) upgraded at Credit Suisse to Outperform from Neutral. 2009 and 2010 price target set at $1.49 and $1.42, respectively. Reiterate $15 price target.

Cabelas (CAB Quote) downgraded at JP Morgan. Rating lowered to Underweight from Neutral. Maintains $10 price target. Lowers 2009 EPS estimates to $1.18 from $1.22.

Corinthian Colleges (COCO Quote) upgraded at Argus from Hold to Buy. $25 price target. High unemployment rates will continue to drive enrollment.

Campbell Soup (CPB Quote) downgraded at Merrill/BofA from Buy to Neutral. $34 price target. Valuation call, as the stock is already pricing in better 2010 results.

Computer Sciences (CSC Quote) upgraded at Kaufman to Buy. $62 price target. Company appears confident in recent meetings and sees strong bookings over the coming quarters.

CTC Media (CTCM Quote) downgraded at Merrill/BofA to Neutral from Buy on limited upside. Price target increased to $19 from $15.50. 2009 and 2010 EPS estimates set at $0.81 and $0.94, respectively.