Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Square (SQ) upgraded to Buy at BTIG by analyst Mark Palmer, who believes risk/reward is more favorable at current levels and valuation provides a cushion against the impact of IPO lockup expiration. Palmer views Square as an unwise short position as he believes it is a legitimate acquisition target and that a potential takeout could be at a healthy premium. 2. Archer Daniels (ADM) upgraded to Outperform at BMO Capital as the firm expects the company's fundamentals to bottom this quarter before "vastly improving" in the second half of the year. BMO predicts that changes to the company's portfolio should make its growth more stable. 3. Microsoft (MSFT) upgraded to Outperform at Cowen by analyst Gregg Moskowitz, who said that the fact that total consumer and commercial Office revenue each grew year-over-year on reported basis in the company's third quarter is a "critical" and overlooked turning point in the company's transition of Office to a subscription model. 4. Deere (DE) upgraded to Outperform at BMO Capital with analyst Joel Tiss saying Deere has underperformed since 2011 and views shares as under-owned and an attractive long-term investment. Tiss added that Deere has lowered costs, output, and inventory, positioned the company for higher returns when crop prices finally rebound and volumes improve. 5. Johnson Controls (JCI) upgraded to Outperform at Credit Suisse by analyst Julian Mitchell, who said a number of concerns regarding the Tyco (TYC) merger are now reflected in Johnson's valuation, and almost not value is being assigned for deal synergies or the Adient spin-off. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,
click here.