Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Sanofi (SNY) upgraded to Hold from Reduce at HSBC, with analyst Steve McGarry citing valuation. 2. M.D.C. Holdings (MDC) upgraded to Market Perform from Underperform at Wells Fargo with analyst Stephen East saying he sees "little reason the equity would move meaningfully lower" from current levels. 3. Ciena (CIEN) upgraded to Buy from Neutral at Citi with analyst Stanley Kovler saying the risk/reward is positive into third quarter results. 4. Six Flags (SIX) upgraded to Buy from Neutral at Hilliard Lyons with analyst Jeff Thomison citing improved valuation based on its 13% year-to-date pullback. 5. Prospect Capital (PSEC) upgraded to Market Perform from Underperform at Raymond James with analyst Robert Dodd saying he expects near-term earnings will cover the lower dividend run-rate but notes downside risk remains. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Reports business EPS of EUR 1.78, down 17.6% reported and 7.4% at CER. Reports Q1 IRFS net sales EUR 10.464B, up 2.4%. Paul Hudson, Chief Executive Officer, commented: "We are off to an excellent start in 2024, delivering on our strategic priorities and a transformation of our portfolio of medicines and vaccines to become a development-driven, tech-powered biopharma company committed to serving patients and accelerating growth. Continued strong performance by Dupixent and our new launches drove sales growth of seven percent. In parallel, we are delivering on our promise of increased investments in our late-stage pipeline to fully realize its value for patients and Sanofi. We are awaiting regulatory decisions for Dupixent in COPD, a progressive disease with limited effective treatment options. If approved, Dupixent will be the first biologic treatment in COPD. With the robust progress in our portfolio transformation, we reaffirm our financial guidance for 2024."