Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Texas Instruments (TXN) upgraded to Outperform from Market Perform at Bernstein with analyst Stacy Rasgon saying that a number of trends, including a decline in depreciation, improving business mix, and cost reductions, will help enable the company to beat Street margin expectations going forward. 2. Anadarko (APC) upgraded to Buy from Accumulate at Johnson Rice. 3. Viacom (VIAB) upgraded to Buy from Hold at Brean Capital with analyst Alan Gould saying that most, if not all, of the negatives are fully priced into the shares at current levels. 4. Western Digital (WDC) upgraded to Buy from Neutral at Longbow with analyst Joe Wittine saying the company's near-term demand trends are "favorable," while its acquisitions should help boost its bottom line and reduce its debt. 5. Kate Spade (KATE) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying the risk/reward is compelling following the recent underperformance of the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

BofA raised the firm's price target on Western Digital to $85 from $75 and keeps a Buy rating on the shares. The firm sees both the HDD and NAND businesses being close to the bottom of the cycle and sees a potential unlock of shareholder value as the company remains on track to split the HDD and NAND business in the second half of 2024.