Alcoa ( AA) upgraded at Morgan Stanley: Morgan Stanley upgrades Alcoa from equalweight to overweight and moves price target from $30 to $40. Con-way ( CNW) upgraded at Merrill: CNW was upgraded from Sell to Neutral at Merrill Lynch. Weak small truckload environment has already been priced into the stock. Pricing has also remained strong. Holly ( HOC) downgraded at Deutsche: HOC was downgraded to Sell at Deutsche Bank. Stock is the most expensive refining stock under coverage, and TSO looks more attractive at current levels. Int'l. Game Tech ( IGT) upgraded at CIBC: IGT was upgraded from Sector Perform to Outperform at CIBC. Replacement cycle is approaching in the slot machine market, and many international opportunities also remain. $56 price target. Laureate Education ( LAUR) downgraded at Credit Suisse: Credit Suisse is downgrading LAUR to Neutral from Outperform on buyout proposal. Raised target price to $60.50. Massey Energy ( MEE) downgraded at Friedman, Billings: MEE was downgraded from Outperform to Market Perform at Friedman, Billings Ramsey. $28 target. Earnings were of poor quality last quarter, because of a lower tax rate. Mosaic ( MOS) upgraded at JP Morgan: MOS was upgraded from Neutral to Overweight at JP Morgan. Stock should close its discount to the peer group, as execution should improve over the coming quarters. DAP market is also rising. Southern Copper ( PCU) downgraded at Deutsche: PCU was downgraded from Buy to Hold at Deutsche Bank. The stock trades at a premium to its peers, and the company's earnings momentum appears to have peaked. Phelps Dodge ( PD) downgraded at Friedman, Billings: PD was downgraded to Market Perform at Friedman, Billings Ramsey. Company lowered its outlook yesterday, and the stock will likely not receive a higher multiple before the FCX merger closes. RadioShack ( RSH) upgraded at Goldman Sachs: Goldman is upgrading RSH to Buy from Hold based on progress in turnaround. See significant earnings potential due to aggressive cost cuts during 2007. Price target raised to $25 from $19. Starbucks ( SBUX) upgraded at JP Morgan: SBUX was upgraded from Neutral to Overweight at JP Morgan. Stock is down 12% since the latest earnings report, and appears attractive to buy ahead of Wednesday's numbers. Company remains on track to generate 20%-plus annual earnings growth over the longer term. Tesoro ( TSO) upgraded at Bear: TSO was upgraded from Peer Perform to Outperform at Bear Stearns. Shell refining acquisition should add to earnings. $90 price target. Tesoro upgraded at Morgan Stanley: Morgan Stanley upgrades Tesoro Petroleum to overweight with a $90 price target.