Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Outperform from In Line at Evercore ISI with analyst Matt McGinley citing lowered expectations on comps, a pullback in valuation relative to last year, and the more defensive nature of the business model. 2. PNC Financial (PNC) upgraded to Outperform from Market Perform at Bernstein and to Buy from Hold at Deutsche Bank. 3. Ralph Lauren (RL) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss saying the recent pullback in the shares creates a "multi-year opportunity." 4. Activision Blizzard (ATVI) upgraded to Overweight from Equal Weight at Barclays with analyst Ryan Gee saying his positive view is based on upside potential for Call of Duty digital revenue in 2019 from battle royale, as well as optimism for incremental product announcements at BlizzCon "fueling positive revisions" to consensus 2019 earnings estimates. 5. Lululemon (LULU) upgraded to Outperform from Neutral at Wedbush with analyst Jen Redding saying she has long viewed lululemon as an "impressive" growth story, with a best-in-class retail leadership team at the helm, and continues to see the company's cutting-edge data analytics and technology platforms on the forefront of wins in the years to come. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.