Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UPS (UPS) upgraded to Outperform from Market Perform at BMO Capital with analyst Fadi Chamoun saying his meetings with institutional investors give him a more constructive outlook as the company proceeds with efforts to "add capacity across its network, implement automation," and (perform) other cost efficiency initiatives with medium-term benefits. 2. LogMeln (LOGM) upgraded to Outperform from Perform at Oppenheimer analyst Shaul Eyal saying in light of a soft 1H18 performance, the analyst views the company's recent retention concerns as gradually stabilizing per his industry checks. 3. Noble Corp. (NE) upgraded to Neutral from Underweight at Piper Jaffray with analyst Ian Macpherson saying he views the stock's risk/reward as balanced at current share levels. 4. Biogen (BIIB) assumed with an Overweight from Neutral at Cantor Fitzgerald. 5. Teva (TEVA) upgraded to Conviction Buy from Buy at Goldman Sachs and to Market Perform from Underperform at Leerink. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Wedbush analyst Laura Chico raised the firm's price target on Biogen to $215 from $213 and keeps a Neutral rating on the shares. It remains early days for newly launching products like Skyclarys, Leqembi and Zurzuvae, the firm notes. That being said, it is encouraging to start to see revenue growth for Leqembi and continued growth for Skyclarys. Wedbush continues to see a gap between the newly launching products and earlier-stage development programs that will need to be addressed. However, larger-scale BD deals are likely easier to complete in 2025.

HSBC upgraded UPS to Buy from Hold with a price target of $170, up from $150. The company's Q1 results beat on tapering volume decline and an improving costs base, the analyst tells investors in a research note. The firm expects UPS's volumes and margins to turnaround from Q2, with a potential 2024 guidance upgrade to reflect the accretive USPS contract. This could restore confidence in the company's 2026 guidance, contends HSBC. It believes the company's volumes and margins have likely troughed.

HSBC analyst Parash Jain upgraded UPS to Buy from Hold with a $170 price target.

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Loop Capital raised the firm's price target on UPS to $161 from $158 and keeps a Hold rating on the shares after its "not as bad as feared" Q1 earnings. Year One of the new Teamsters contract in conjunction with the very weak freight economy has left UPS with a big profitability and earnings hole to climb out of, though labor cost inflation should "dramatically decelerate" in the August quarter while macro conditions hopefully create a path for normalizing freight demand, the analyst tells investors in a research note.