Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ameren (AEE) upgraded to Overweight at Barclays by analyst Gregg Orrill, who cited a better regulatory outlook for Missouri. 2. Energizer (ENR) upgraded to Buy at Goldman with analyst Jason English saying the company is positioned for a "beat-and-raise cycle" while its valuation is compelling relative to peers. English also believes Energizer's strong balance sheet provides the opportunity to pursue accretive acquisitions. 3. Gap (GPS) upgraded to Overweight at KeyBanc due to its belief that the company can surpass expectations this year, driven by product improvements at The Gap stores, outperformance at Old Navy, and overall accelerated apparel sale growth. 4. Hibbett Sports (HIBB) upgraded to Buy at Sterne Agee CRT due to the confidence that the company is about to reach a positive turning point. Sterne Agee CRT predicts that the company's POS system rollout will boost its conversion rates and limit its traffic deterioration. 5. Exelixis (EXEL) upgraded to Buy at Stifel because the firm expects the FDA to approve the company's cabozantinib drug for renal cell carcinoma sooner than expected, and predicts that the drug's commercial launch will exceed expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

B. Riley analyst Anna Glaessgen raised the firm's price target on Hibbett to $87.50 from $70 and keeps a Neutral rating on the shares after JD Sports Fashion announced an agreement to acquire the company for $87.50 per share in cash.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Hibbett (HIBB) announced a definitive agreement in which JD Sports Fashion will acquire all outstanding shares of Hibbett for $87.50 per share in cash, representing an aggregate enterprise value of approximately $1.1B. The board of directors of Hibbett has unanimously approved the definitive merger agreement and the transaction. The transaction is expected to close in the second half of 2024, subject to receipt of Hibbett stockholder approval, receipt of required regulatory approvals, and the satisfaction of other customary conditions to closing. The transaction is not subject to a financing condition. Under the terms of the definitive merger agreement, Hibbett has agreed to suspend the payment of dividends on its common stock, as well as the purchase of shares under its existing stock repurchase program, through the closing of the transaction. Following the closing of the transaction, Hibbett will join the JD Sports family of athletic footwear and fashion retail brands and will cease to be a publicly traded company. Following the closing of the transaction, Mike Longo will continue to serve as president and CEO and Jared Briskin will take on the role of COO of Hibbett. Hibbett will maintain its corporate headquarters in Birmingham, Alabama.