Goldman Sachs analyst Heath Terry upgraded Etsy to Buy and raised his price target for the shares to $54 from $46. Consensus estimates remain too low for 2019 as the company optimizes the incremental growth investments made possible by the take rate increase instituted in July 2018, Terry tells investors in a research note. He thinks a company delivering both accelerating organic growth and margin expansion alongside a buyback warrants a premium valuation.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Intel (INTC) upgraded to Buy from Neutral at BofA/Merrill with analyst Vivek Arya saying the stock provides attractive exposure to growth trends in cloud computing, AI, advanced autos and 5G. 2. Netflix (NFLX) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Heath Terry saying with the stock down 36% since record highs in July, Netflix represents one of the best risk/reward propositions in the Internet sector. 3. Shutterfly (SFLY) upgraded to Overweight from Sector Weight at KeyBanc with analyst Edward Yruma saying valuation is "compelling" despite concerns about the promotional environment that have materialized. 4. Honeywell (HON) upgraded to Outperform from Sector Perform at RBC Capital with analyst Deane Dray saying the company looks to be benefiting from the re-rating that follows the Garrett/Resideo spins. 5. Etsy (ETSY) upgraded to Buy from Neutral at Goldman Sachs with analyst Heath Terry saying consensus estimates remain too low for 2019 as the company optimizes the incremental growth investments made possible by the take rate increase instituted in July 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Piyush Sood saying his firm's Metals & Mining team expects copper market tightness to emerge beginning in Q2, given falling global production, low visible inventories and improved demand from China and Freeport's earnings sensitivity to copper is still the highest among its peers. 2. DocuSign (DOCU) upgraded to Buy from Hold at Deutsche Bank with analyst Karl Keirstead saying that after speaking with four large e-signature customers, three using DocuSign and one using Adobe Sign, the analyst believes a "more constructive call on DocuSign shares is now warranted." 3. Bloom Energy (BE) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying shares are down about 36% since the IPO in July 2018, including a 24% drop since mid-January, the latter due in large part to selling pressure following lockup expiration. 4. Shopify (SHOP) upgraded to Outperform from Sector Perform at RBC Capital with analyst Ross MacMillan saying he anticipates the company to return to new merchant growth this year given its international opportunity and easier comps. 5. Myovant Sciences (MYOV) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying his firm's women's health survey suggests a "robust potential market" for new treatment options for endometriosis and uterine fibroids. The analyst also raised his price target for the shares to $25 from $22. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.