Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Strong Buy from Market Perform at Raymond James with analyst Chris Caso saying his firm's analysis of conditions looking forward concludes that supply/demand conditions are highly likely to improve further as the year progresses. 2. General Dynamics (GD) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying General Dynamics has been a "value trap," but with a free cash inflection "upon us," the stock's potential to return 17% of the current market capitalization over the next three years stacks up well versus peers. 3. VMware (VMW) upgraded to Outperform from Market Perform at Bernstein with analyst Mark Moerdler saying he increased his revenue and earnings expectations above consensus after breaking down each of the company's businesses and growth potential. 4. Cummins (CMI) upgraded to Neutral from Sell at UBS with analyst Steven Fisher saying with a 7% year-to-date decline in the stock price, its risk/reward is now "more closely balanced. 5. Plains All American (PAA) and Plains GP Holdings (PAGP) were upgraded to Buy from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

RBC Capital lowered the firm's price target on General Dynamics to $320 from $325 after its Q1 earnings miss but keeps an Outperform rating on the shares. The company's revenue growth was driven by double-digit growth in Combat Systems, Marine Systems, and Aerospace, but while the management provided cautious comments on Q2 earnings and free cash flow, the set-up into the second half remains "very favorable", the analyst tells investors in a research note. RBC adds that it continues to see capital allocation as a key catalyst for General Dynamics.

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $10.7B, consensus $10.32B. "Our businesses delivered solid operating results in the quarter, growing revenue and backlog, while expanding margins, even as we awaited G700 certification," said Phebe N. Novakovic, chairman and chief executive officer. "In the Aerospace segment, the recent FAA certification of the Gulfstream G700 has enabled us to begin customer deliveries. This is a strong start to 2024 and we remain confident in our outlook."