The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.

Top 5 Upgrades:

• Deutsche Bank upgraded Southwest (LUV) to Buy from Hold with a price target of $42, up from $28. The firm believes more moderate domestic available seat mile growth for 2024 will have positive implications for domestic unit revenue performance, and by extension, should translate into solid sales performance for the domestic-focused names. As such, Deutsche upgraded Alaska (ALK), JetBlue (JBLU), and Southwest to Buy from Hold. Meanwhile, Bernstein also upgraded Southwest to Market Perform from Underperform with a price target of $32, up from $26.

• UBS upgraded US Foods (USFD) to Buy from Neutral with a price target of $64, up from $47. Following the company's Q4 results, UBS is becoming more bullish on US Foods based on expectations for further market share gains on the back of sales force investments and its differentiated tech platform as well as higher conviction that the company's EBITDA growth trajectory is sustainable. Piper Sandler also upgraded US Foods to Overweight from Neutral with a price target of $59, up from $45.

• B. Riley upgraded Brunswick (BC) to Buy from Neutral with a price target of $108, up from $100. The firm upgrades the shares following positive indications from the Miami International Boat Show around underlying demand trends, market share upside, increased moves to boost operating margins, and overall 2024 guidance conservatism.
  

• Wolfe Research upgraded Freshworks (FRSH) to Outperform from Peer Perform with a $27 price target. The firm sees the combination of improving fundamentals, execution, and competitive dynamics supporting multi-year 20% revenue growth with expanding margins for the company.
  

• Mizuho upgraded LivaNova (LIVN) to Buy from Neutral with a price target of $70, up from $60. The company has a "well-hedged path" to either 20-plus annual earnings growth over the next three years or upside optionality based on outcome of the RECOVER trial by mid-year, the firm tells investors in a research note.
  

Top 5 Downgrades:

• Phillip Securities downgraded Apple (AAPL) to Neutral from Accumulate with an unchanged price target of $194. The firm cites valuation for the downgrade following the stock's recent gains, but says it expects Services to continue being Apple's main growth driver as its installed base increases.

• Phillip Securities downgraded Tesla (TSLA) to Neutral from Accumulate with a $175 price target. The near-term outlook for Tesla "looks quite bleak, with the company set on sacrificing margins and growth also slowing," the firm tells investors in a research note.

• Phillip Securities downgraded Airbnb (ABNB) to Neutral from Buy with a $150 price target, down from $157. The firm cites valuation for the downgrade following the recent rally and a slowdown in booking volumes for the downgrade.

• Evercore ISI downgraded Caterpillar (CAT) to In Line from Outperform with a price target of $338, up from $321. The downgrade is not so much company specific as it is a call to take profits on the group, the firm tells investors in a research note.

• Argus downgraded Johnson Controls (JCI) to Hold from Buy. The firm sees the stock's current valuations as reasonable given the company's reduced growth outlook due to the recent cybersecurity attack.