Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Titan Machinery (TITN) upgraded to Outperform at Baird due to valuation and its reduced inventory, which could be a share catalyst. 2. J.C. Penney (JCP) upgraded to Buy at Evercore ISI by analyst Omar Saad, who said the retailer's recent outperformance is a sign that its sales, margin and free cash flow will continue to "materially improve." 3. Canadian Natural (CNQ) upgraded to Overweight at JPMorgan with analyst Phil Gresh saying that the company has "top tier" cash flow yield potential. 4. Essex Property Trust (ESS) upgraded to Buy at SunTrust citing an overreaction to worries about the tech sector in Northern California. The firm expects growth in the region to be moderate, but it predicts that a housing shortage will lessen the impact of this development. 5. Marsh & McLennan (MMC) upgraded to Conviction Buy at Goldman by analyst Michael Nannizzi, who said the company has generated consistent earnings growth purely by margin expansion. The firm also sees low risk to estimates despite the uncertain macro backdrop. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.