Morgan Stanley analyst James Faucette upgraded Cisco to Overweight and increased its price target to $39 from $32 citing security-driven networking share gains long-term. Faucette's channel checks indicate security sales are beginning to drive network equipment upgrades, which may improve the replacement cycle. He believes Cisco will gain a greater share of IT budgets as customers increasingly favor its end-to-end portfolio and architecture as security-defined networks become the primary driver of networking spending. The analyst also prescribed a higher value for the core business and potential tax policy changes.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Starbucks (SBUX) upgraded to Buy from Hold at Deutsche Bank with analyst Brett Levy saying following a year of transition, "rebounding results are possible." 2. Johnson & Johnson (JNJ) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Weinstein saying the stock has underperformed over the past 12 months on the prospect of decelerating top-line growth in 2017. The thesis of sales growth deceleration will, after the second quarter, have played itself out, the analyst contends. 3. Cisco (CSCO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst James Faucette citing security-driven networking share gains long-term. 4. FMC Corporation (FMC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Frank Mitsch saying that after he spent time with management, he is more positive about FMC's profit opportunities with its transformation as well as the current agriculture cycle. 5. Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Deutsche Bank with analyst Brett Levy saying investors are likely to give the winning side of the upcoming board vote enough time to implement the necessary changes. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.