Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Square (SQ) upgraded to Buy from Hold at Deutsche Bank with analyst Bryan Keane saying he views the company as well positioned to capitalize on many positive trends, including the growth in micro and small business, electronic payments and the move towards integrated solutions. 2. J.C. Penney (JCP) upgraded to Buy from Neutral at BofA/Merrill with analsyt Lorraine Hutchinson saying he expects strengthening comps and free cash flow to drive debt repayment and shares. 3. CBOE Holdings (CBOE) upgraded to Overweight from Neutral at JPMorgan with analyst Kenneth Worthington saying the merger with Bats Global Markets (BATS) has the potential to generate higher volumes with the rollout of Bats trading technology to CBOE products due to improved latency and throughput. 4. Parker-Hannifin (PH) upgraded to Buy from Hold at Deutsche Bank. 5. Valvoline (VVV) upgraded to Buy from Neutral at Longbow analyst Dmitry Silversteyn saying VIOC locations are seeing 3%-5% same store sales growth and premium lubricant sales continue to gain traction with customers, contributing to sales, margin, and growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.