Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Piper Jaffray upgraded Oil States (OIS), Superior Energy (SPN), and U.S. Silica (SLCA) to Overweight, citing a more positive macro outlook regarding the rebalancing of oil supply/demand. 2. ArcelorMittal (MT) upgraded to Buy at Berenberg citing limited downside risk to 2016 estimates and improving global steel fundamentals. 3. Ball Corp. (BLL) upgraded to Overweight at JPMorgan by analyst Tyler Langton, who said the risk/reward into the acquisition of Rexam (REXMY) is "increasingly more favorable." Langston adds that the company can still achieve a return on its investment that exceeds its 9% threshold even if divestitures come in higher and synergies come in lower than Ball expects. 4. Fortinet (FTNT) upgraded to Outperform at Cowen with analyst saying Global Security Reseller Survey indicates some degree of increased momentum for FTNT, with win rates were better than expected. 5. TransCanada (TRP) upgraded to Buy at Citi by analyst Faisel Khan, who cited management's willingness to part with a large portion of the company's power assets. He added that such asset sales would "clean up" the company's portfolio to remove the cyclical nature of these earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
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