Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Owens Corning (OC) upgraded to Buy from Neutral at Nomura Instinet with analyst Michael Wood saying the current valuation reflects the cyclical downturn while an extended recovery could bring compelling upside. 2. Qorvo (QRVO) upgraded to Overweight from Equal Weight at Barclays with analyst Blayne Curtis saying he sees content gains at Apple (AAPL) being a positive catalyst for the shares. 3. LabCorp (LH) and Quest Diagnostics (DGX) were upgraded to Outperform from Neutral at Baird. 4. Fox Factory (FOXF) upgraded to Buy from Neutral at BofA/Merrill with analyst Rafe Jadrosich saying valuation is attractive following the pullback. 5. Marriott Vacations (VAC) upgraded to Buy from Hold at SunTrust with analyst C. Patrick Scholes saying the 10% stock pullback yesterday was the result of higher expectations for deal synergies, "arb" pressure, sell-on-news factors, as well as limited management commentary regarding revenue synergies on its call. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.

UBS raised the firm's price target on Quest Diagnostics to $146 from $139 and keeps a Neutral rating on the shares. UBS is more confident that Quest can hit its margin expansion story following the Q2 print and the firm's call with management, the analyst tells investors in a research note. Labor cost trends seem to have already peaked and Covid revenues should no longer be a headwind starting 2H, while above market base volume growth continues, the firm notes.

Citi raised the firm's price target on Quest Diagnostics to $145 from $135 and keeps a Neutral rating on the shares post the Q1 report. The company increased the midpoint of its fiscal 2024 revenue target and management anticipates the rest of fiscal year to follow regular seasonality on a revenue and margin basis with a step-up into Q2, the analyst tells investors in a research note.

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.

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Quest Diagnostics announced the launch of a new blood biomarker test for phosphorylated tau 217, or p-tau217. P-tau217 is a biomarker associated with Alzheimer's Disease, supported by research as useful for an early diagnosis of AD. The test is the latest addition to the AD-Detect portfolio of blood tests for assessing the risk of Alzheimer's Disease, which also includes testing for an array of AD biomarkers, including p-tau181 and amyloid beta proteins, as well as Apolipoprotein E isoform and plasma testing, for patients with cognitive impairment. The test is expected to be available for ordering on April 26.