Bolivia's coca growers want the Coca-Cola Co. (NYSE:KO) to drop "Coca" from its name and passed a resolution to that effect. The Coca-Cola Co. would have none of that of course, saying its trademark is "the most valuable and recognized brand in the world," which is absolutely true.

Still, Bolivian growers say coca is a "potent shrub [that] belongs to the cultural heritage of this Andean nation." While the coca leaf is indeed sacred to many in the region, it remains the base ingredient of cocaine and therefore illegal to use and grow in most places around the globe.

A little history lesson might be in order here: Originally, the Coca-Cola syrup was made from coca leaves and kola nuts -- the source of caffeine. An estimated 9 milligrams of cocaine were present in one glass, according to Wikipedia. Today, it is largely assumed that the syrup is made from "spent" coca leaves (the leftovers of the cocaine-extraction process) and kola nuts.

While Coca-Cola denies it has ever used cocaine as an ingredient, it wouldn't say whether the natural coca leaf was used to flavor the soda. Bolivian coca growers, however, claim the company used to purchase tons of their leaves annually. If the company can purchase and use the leaves, they say, it should defend the leaves, too, and help their cause in decriminalizing the leaf.

They also hope that once decriminalized, a whole slew of coca-based products could be sold internationally such as tea, flour, liquor and even toothpaste, and instead of growing coca for drug trade, farmers would divert production for legitimate products. The U.S. opposes.

Update: Coca-Cola is to report earnings April 17th, here's BloggingStocks' earning preview.

MOST NOTEWORTHY: The Coca-Cola Co (KO), Merck & Co (MRK) and National Semiconductor (NSM) were some of today's more notable upgrades:

• The Coca-Cola Co (NYSE: KO) was upgraded to Buy from Hold with a $57 target at Deutsche Bank based on valuation.

• Merck & Co (NYSE: MRK) was upgraded to Buy from Hold at Citigroup to reflect the firm's bullish outlook for the company's diabetes drug, Januvia. Citigroup believes the drug will help drive above-consensus earnings following its recent diabetes survey.

• National Semiconductor (NYSE: NSM) was upgraded to Strong Buy from Market Perform at Raymond James.

OTHER UPGRADES:

• Robert W. Baird upgraded shares of Comverse Technology (NASDAQ: CMVT) to Outperform from Neutral based on valuation and potential catalysts that include a possible break-up of the company.

• RBC upgraded Research in Motion (NASDAQ: RIMM) to Outperform from Sector Perform with a $180 target, as checks indicate shipment and sub-momentum from the company's product cycle will be significantly greater than anticipated.

• Kellogg (NYSE: K) was added to Lehman Brothers' Favorites List.

• Stanford upgraded Brooks Automation (NASDAQ: BRKS) to Buy from Hold with a $20 target on improved industry conditions, cash generation and valuation.

• Cowen added Ericsson Telephone Co (NASDAQ: ERIC) and Oracle Corp (NASDAQ: ORCL) to its Focus List.

• Matrix USA upgraded J.C. Penney Co Inc (NYSE: JCP) to Strong buy from Buy with an intrinsic value of $115.

• Wedbush upgraded LSI Logic Corp (NYSE: LSI) to Buy from Hold with a $13 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).