Alcoa added to stock list.
Alcoa Inc. (AA) was upgraded to overweight from equal weight at Morgan Stanley, which cited expectations of sustainable improvement in smelting and margin expansion in its downstream businesses. Analyst Mark Liinamaa also raised his stock price target to $40 from $30, his 2007 earnings estimate to $3.21 a share from $2.75 and his 2008 earnings forecast to $3.12 a share from $2.77.
