Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Flir Systems (FLIR) upgraded to Outperform from In-Line at Imperial Capital with analyst Jeff Kessler saying after attending recent conferences, he believes prospects for Flir's safe cities and other civilian projects will improve starting in 2020. 2. Legg Mason (LM) upgraded to In Line from Underperform at Evercore ISI with analyst Glenn Schorr saying that with Legg Mason having made "a bunch of progress" toward accomplishing the mission of becoming a more stable company and now with the presence of an activist that should help them extract some more expense synergies, it does not feel like an underperform to him anymore. 3. Ericsson (ERIC) upgraded to Buy from Neutral at BofA/Merrill with analyst Tal Liani citing its 5G leadership and potential for longer-term share gains as well as the U.S. pressures on Huawei, which he thinks may add to Ericsson share gains. 4. Redfin (RDFN) upgraded to Neutral from Underperform at DA Davidson with analyst Tom White saying his proprietary data suggest that the company's listing share trends are not only improving but "establishing new highs." 5. AES Corp. (AES) upgraded to Buy from Hold at Argus with analyst Gary Hovis saying the company is now better positioned to generate "more consistent" earnings and dividend growth while trading at a "reasonable" valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Bearish flow noted in Redfin with 5,561 puts trading, or 1.8x expected. Most active are Jan-26 5 puts and Jan-26 5 calls, with total volume in those strikes near 5,100 contracts. The Put/Call Ratio is 1.82, while ATM IV is up over 1 point on the day. Earnings are expected on May 2nd.