Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Amkor Technology (AMKR) upgraded to Outperform from Neutral at Credit Suisse. 2. Owens Corning (OC) upgraded to Buy from Hold at Argus with analyst John Eade citing the company's recent Q3 earnings beat thanks to its implementation of strategies to expand margins and grow earnings under the new CEO Brian Chambers. 3. Texas Roadhouse (TXRH) upgraded to Outperform from Market Perform at Raymond James with analyst Brian Vaccaro saying he believes improved labor productivity reflected in the company's Q3 results and guidance should remove a key overhang in the stock and the company is also sustaining powerful comp outperformance with positive traffic in a slightly negative industry comp backdrop. 4. QTS Realty Trust (QTS) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Choe saying he expects to see accelerating growth in the company's core colocation business driven by its service delivery platform "with upside coming from opportunistic hyperscale deals." 5. Ameren (AEE) upgraded to Buy from Neutral at UBS with analyst Daniel Ford saying after underperformance over the past nine months, the stock trades at a discount on a 2021 price-to-earnings ratio. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Argus raised the firm's price target on Owens Corning to $182 from $175 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings beat while noting that the composite and building materials demand is impacted by the changes in the housing and construction markets which have been strong in recent quarters. Argus adds that the company's balance sheet is clean, and the management has recently hiked the dividend by 15%, signaling confidence in the outlook and a commitment to shareholder returns.

RBC Capital raised the firm's price target on Owens Corning to $192 from $175 and keeps an Outperform rating on the shares. The company's Q1 results saw another strong margin result in Roofing, with incremental pricing gains in Roofing/Insulation driving further upside while more than offsetting ongoing Composites weakness, the analyst tells investors in a research note. RBC adds that it continues to see strength supported by lean channel inventories and solid sell-through even as comps become more difficult.

Sees Q2 EBIT margin 20%. Sees FY24 effective tax rate 24%-26%.

Sees FY24 interest expense $70M-$80M; effective tax rate on adjusted earnings 24%-26%; capital additions $550M; and depreciation and amortization $550M.