diff --git a/package.json b/package.json
index 24f8db36b6..2469771966 100644
--- a/package.json
+++ b/package.json
@@ -43,7 +43,7 @@
     "eslint-plugin-jest": "^23.8.2",
     "eslint-plugin-prettier": "^3.1.2",
     "fancy-log": "^1.3.3",
-    "flow-bin": "^0.108.0",
+    "flow-bin": "^0.123.0",
     "gulp": "^4.0.2",
     "gulp-babel": "^8.0.0",
     "gulp-filter": "^5.1.0",
diff --git a/packages/babel-core/src/config/config-descriptors.js b/packages/babel-core/src/config/config-descriptors.js
index fa60d47d71..c203dbc74c 100644
--- a/packages/babel-core/src/config/config-descriptors.js
+++ b/packages/babel-core/src/config/config-descriptors.js
@@ -268,7 +268,6 @@ export function createDescriptor(
   let value = pair;
   if (Array.isArray(value)) {
     if (value.length === 3) {
-      // $FlowIgnore - Flow doesn't like the multiple tuple types.
       [value, options, name] = value;
     } else {
       [value, options] = value;
diff --git a/packages/babel-core/src/config/helpers/config-api.js b/packages/babel-core/src/config/helpers/config-api.js
index a93756ae9f..f49e038f76 100644
--- a/packages/babel-core/src/config/helpers/config-api.js
+++ b/packages/babel-core/src/config/helpers/config-api.js
@@ -17,13 +17,14 @@ type EnvFunction = {
   (Array<string>): boolean,
 };
 
-export type PluginAPI = {
+export type PluginAPI = {|
   version: string,
   cache: SimpleCacheConfigurator,
   env: EnvFunction,
   async: () => boolean,
   assertVersion: typeof assertVersion,
-};
+  caller?: any,
+|};
 
 export default function makeAPI(
   cache: CacheConfigurator<{ envName: string, caller: CallerMetadata | void }>,
@@ -55,7 +56,6 @@ export default function makeAPI(
     async: () => false,
     caller,
     assertVersion,
-    tokTypes: undefined,
   };
 }
 
diff --git a/packages/babel-helper-compilation-targets/src/index.js b/packages/babel-helper-compilation-targets/src/index.js
index 1eca5be3ef..a53e927e9a 100644
--- a/packages/babel-helper-compilation-targets/src/index.js
+++ b/packages/babel-helper-compilation-targets/src/index.js
@@ -13,9 +13,9 @@ import {
 } from "./utils";
 import { browserNameMap } from "./targets";
 import { TargetNames } from "./options";
-import type { Targets } from "./types";
+import type { Target, Targets, InputTargets, Browsers } from "./types";
 
-export type { Targets };
+export type { Targets, InputTargets };
 
 export { prettifyTargets } from "./pretty";
 export { getInclusionReasons } from "./debug";
@@ -39,7 +39,7 @@ function objectToBrowserslist(object: Targets): Array<string> {
   }, []);
 }
 
-function validateTargetNames(targets: Targets): void {
+function validateTargetNames(targets: InputTargets): Targets {
   const validTargets = Object.keys(TargetNames);
   for (const target in targets) {
     if (!TargetNames[target]) {
@@ -49,32 +49,24 @@ function validateTargetNames(targets: Targets): void {
       );
     }
   }
+
+  // $FlowIgnore
+  return targets;
 }
 
-export function isBrowsersQueryValid(
-  browsers: string | Array<string> | Targets,
-): boolean {
+export function isBrowsersQueryValid(browsers: Browsers | Targets): boolean {
   return typeof browsers === "string" || Array.isArray(browsers);
 }
 
-function validateBrowsers(browsers) {
+function validateBrowsers(browsers: Browsers | void) {
   invariant(
     typeof browsers === "undefined" || isBrowsersQueryValid(browsers),
-    `Invalid Option: '${browsers}' is not a valid browserslist query`,
+    `Invalid Option: '${String(browsers)}' is not a valid browserslist query`,
   );
 
   return browsers;
 }
 
-function mergeBrowsers(fromQuery: Targets, fromTarget: Targets) {
-  return Object.keys(fromTarget).reduce((queryObj, targKey) => {
-    if (targKey !== TargetNames.browsers) {
-      queryObj[targKey] = fromTarget[targKey];
-    }
-    return queryObj;
-  }, fromQuery);
-}
-
 function getLowestVersions(browsers: Array<string>): Targets {
   return browsers.reduce((all: Object, browser: string): Object => {
     const [browserName, browserVersion] = browser.split(" ");
@@ -170,30 +162,31 @@ type ParsedResult = {
 };
 
 export default function getTargets(
-  targets: Object = {},
+  inputTargets: InputTargets = {},
   options: Object = {},
 ): Targets {
   const targetOpts: Targets = {};
 
-  validateTargetNames(targets);
-
   // `esmodules` as a target indicates the specific set of browsers supporting ES Modules.
   // These values OVERRIDE the `browsers` field.
-  if (targets.esmodules) {
+  if (inputTargets.esmodules) {
     const supportsESModules = browserModulesData["es6.module"];
-    targets.browsers = Object.keys(supportsESModules)
+    inputTargets.browsers = Object.keys(supportsESModules)
       .map(browser => `${browser} ${supportsESModules[browser]}`)
       .join(", ");
   }
 
   // Remove esmodules after being consumed to fix `hasTargets` below
-  delete targets.esmodules;
+  delete inputTargets.esmodules;
 
   // Parse browsers target via browserslist
-  const browsersquery = validateBrowsers(targets.browsers);
+  const browsersquery = validateBrowsers(inputTargets.browsers);
+  delete inputTargets.browsers;
 
-  const hasTargets = Object.keys(targets).length > 0;
-  const shouldParseBrowsers = !!targets.browsers;
+  let targets: Targets = validateTargetNames(inputTargets);
+
+  const shouldParseBrowsers = !!browsersquery;
+  const hasTargets = shouldParseBrowsers || Object.keys(targets).length > 0;
   const shouldSearchForConfig =
     !options.ignoreBrowserslistConfig && !hasTargets;
 
@@ -215,43 +208,39 @@ export default function getTargets(
     });
 
     const queryBrowsers = getLowestVersions(browsers);
-    targets = mergeBrowsers(queryBrowsers, targets);
+    targets = Object.assign(queryBrowsers, targets);
 
     // Reset browserslist defaults
     browserslist.defaults = browserslistDefaults;
   }
 
   // Parse remaining targets
-  const parsed = Object.keys(targets)
-    .filter(value => value !== TargetNames.esmodules)
-    .sort()
-    .reduce(
-      (results: ParsedResult, target: string): ParsedResult => {
-        if (target !== TargetNames.browsers) {
-          const value = targets[target];
+  const parsed = (Object.keys(targets): Array<Target>).sort().reduce(
+    (results: ParsedResult, target: $Keys<Targets>): ParsedResult => {
+      const value = targets[target];
 
-          // Warn when specifying minor/patch as a decimal
-          if (typeof value === "number" && value % 1 !== 0) {
-            results.decimalWarnings.push({ target, value });
-          }
+      // Warn when specifying minor/patch as a decimal
+      if (typeof value === "number" && value % 1 !== 0) {
+        results.decimalWarnings.push({ target, value });
+      }
 
-          // Check if we have a target parser?
-          const parser = targetParserMap[target] || targetParserMap.__default;
-          const [parsedTarget, parsedValue] = parser(target, value);
+      // Check if we have a target parser?
+      // $FlowIgnore - Flow doesn't like that some targetParserMap[target] might be missing
+      const parser = targetParserMap[target] ?? targetParserMap.__default;
+      const [parsedTarget, parsedValue] = parser(target, value);
 
-          if (parsedValue) {
-            // Merge (lowest wins)
-            results.targets[parsedTarget] = parsedValue;
-          }
-        }
+      if (parsedValue) {
+        // Merge (lowest wins)
+        results.targets[parsedTarget] = parsedValue;
+      }
 
-        return results;
-      },
-      {
-        targets: targetOpts,
-        decimalWarnings: [],
-      },
-    );
+      return results;
+    },
+    {
+      targets: targetOpts,
+      decimalWarnings: [],
+    },
+  );
 
   outputDecimalWarning(parsed.decimalWarnings);
 
diff --git a/packages/babel-helper-compilation-targets/src/options.js b/packages/babel-helper-compilation-targets/src/options.js
index eadc8dbd43..0c30e6113d 100644
--- a/packages/babel-helper-compilation-targets/src/options.js
+++ b/packages/babel-helper-compilation-targets/src/options.js
@@ -1,9 +1,7 @@
 // @flow
 
 export const TargetNames = {
-  esmodules: "esmodules",
   node: "node",
-  browsers: "browsers",
   chrome: "chrome",
   opera: "opera",
   edge: "edge",
@@ -14,7 +12,4 @@ export const TargetNames = {
   android: "android",
   electron: "electron",
   samsung: "samsung",
-
-  // deprecated
-  uglify: "uglify",
 };
diff --git a/packages/babel-helper-compilation-targets/src/types.js b/packages/babel-helper-compilation-targets/src/types.js
index 28b4c2b3f3..8d488052d6 100644
--- a/packages/babel-helper-compilation-targets/src/types.js
+++ b/packages/babel-helper-compilation-targets/src/types.js
@@ -17,3 +17,12 @@ export type Target =
 export type Targets = {
   [target: Target]: string,
 };
+
+export type Browsers = string | Array<string>;
+
+export type InputTargets = {
+  ...Targets,
+
+  browsers?: Browsers,
+  esmodules?: boolean,
+};
diff --git a/packages/babel-parser/src/plugins/estree.js b/packages/babel-parser/src/plugins/estree.js
index 1f04b03e30..52010bbdd8 100644
--- a/packages/babel-parser/src/plugins/estree.js
+++ b/packages/babel-parser/src/plugins/estree.js
@@ -208,6 +208,7 @@ export default (superClass: Class<Parser>): Class<Parser> =>
         this.directiveToStmt(d),
       );
       node.body = directiveStatements.concat(node.body);
+      // $FlowIgnore - directives isn't optional in the type definition
       delete node.directives;
     }
 
@@ -389,7 +390,9 @@ export default (superClass: Class<Parser>): Class<Parser> =>
       if (node.callee.type === "Import") {
         ((node: N.Node): N.EstreeImportExpression).type = "ImportExpression";
         ((node: N.Node): N.EstreeImportExpression).source = node.arguments[0];
+        // $FlowIgnore - arguments isn't optional in the type definition
         delete node.arguments;
+        // $FlowIgnore - callee isn't optional in the type definition
         delete node.callee;
       }
 
diff --git a/packages/babel-parser/src/tokenizer/index.js b/packages/babel-parser/src/tokenizer/index.js
index 96ff0c2129..73c42eb118 100644
--- a/packages/babel-parser/src/tokenizer/index.js
+++ b/packages/babel-parser/src/tokenizer/index.js
@@ -1,5 +1,7 @@
 // @flow
 
+/*:: declare var invariant; */
+
 import type { Options } from "../options";
 import * as N from "../types";
 import type { Position } from "../util/location";
@@ -1360,10 +1362,14 @@ export default class Tokenizer extends LocationParser {
       default:
         if (ch >= charCodes.digit0 && ch <= charCodes.digit7) {
           const codePos = this.state.pos - 1;
-          // $FlowFixMe
-          let octalStr = this.input
+          const match = this.input
             .substr(this.state.pos - 1, 3)
-            .match(/^[0-7]+/)[0];
+            .match(/^[0-7]+/);
+
+          // This is never null, because of the if condition above.
+          /*:: invariant(match !== null) */
+          let octalStr = match[0];
+
           let octal = parseInt(octalStr, 8);
           if (octal > 255) {
             octalStr = octalStr.slice(0, -1);
diff --git a/packages/babel-preset-env/src/filter-items.js b/packages/babel-preset-env/src/filter-items.js
index a0041b3f08..dacc2b25da 100644
--- a/packages/babel-preset-env/src/filter-items.js
+++ b/packages/babel-preset-env/src/filter-items.js
@@ -5,7 +5,6 @@ export function removeUnnecessaryItems(
   overlapping: { [name: string]: string[] },
 ) {
   items.forEach(item => {
-    // $FlowIgnore Flow doesn't support calls in optional chains
     overlapping[item]?.forEach(name => items.delete(name));
   });
 }
diff --git a/packages/babel-preset-env/src/index.js b/packages/babel-preset-env/src/index.js
index 4aea6ea731..fe17cc9501 100644
--- a/packages/babel-preset-env/src/index.js
+++ b/packages/babel-preset-env/src/index.js
@@ -25,6 +25,7 @@ import getTargets, {
   filterItems,
   isRequired,
   type Targets,
+  type InputTargets,
 } from "@babel/helper-compilation-targets";
 import availablePlugins from "./available-plugins";
 import { filterStageFromList } from "./utils";
@@ -247,15 +248,17 @@ export default declare((api, opts) => {
       "@babel/preset-env: esmodules and browsers targets have been specified together.",
     );
     console.log(
+      // $FlowIgnore
       `\`browsers\` target, \`${optionsTargets.browsers}\` will be ignored.`,
     );
     console.log("");
   }
 
-  const targets = getTargets(optionsTargets, {
-    ignoreBrowserslistConfig,
-    configPath,
-  });
+  const targets = getTargets(
+    // $FlowIgnore optionsTargets doesn't have an "uglify" property anymore
+    (optionsTargets: InputTargets),
+    { ignoreBrowserslistConfig, configPath },
+  );
   const include = transformIncludesAndExcludes(optionsInclude);
   const exclude = transformIncludesAndExcludes(optionsExclude);
 
diff --git a/packages/babel-preset-env/src/normalize-options.js b/packages/babel-preset-env/src/normalize-options.js
index 1095880a3e..04e4d823ba 100644
--- a/packages/babel-preset-env/src/normalize-options.js
+++ b/packages/babel-preset-env/src/normalize-options.js
@@ -123,9 +123,7 @@ const normalizeTargets = targets => {
   if (typeof targets === "string" || Array.isArray(targets)) {
     return { browsers: targets };
   }
-  return {
-    ...targets,
-  };
+  return { ...targets };
 };
 
 export const validateConfigPathOption = (
diff --git a/packages/babel-preset-env/src/types.js b/packages/babel-preset-env/src/types.js
index 4e81d5eef0..bcf25119e7 100644
--- a/packages/babel-preset-env/src/types.js
+++ b/packages/babel-preset-env/src/types.js
@@ -2,7 +2,7 @@
 
 import { ModulesOption, UseBuiltInsOption } from "./options";
 import type { NormalizedCorejsOption } from "./normalize-options";
-import type { Targets } from "@babel/helper-compilation-targets";
+import type { Targets, InputTargets } from "@babel/helper-compilation-targets";
 
 // Options
 // Use explicit modules to prevent typo errors.
@@ -32,7 +32,7 @@ export type Options = {
   modules: ModuleOption,
   shippedProposals: boolean,
   spec: boolean,
-  targets: Targets,
+  targets: { ...InputTargets, uglify?: boolean },
   useBuiltIns: BuiltInsOption,
 };
 
diff --git a/packages/babel-types/src/modifications/removeProperties.js b/packages/babel-types/src/modifications/removeProperties.js
index e0f2af6c1a..eb27fd7cbb 100644
--- a/packages/babel-types/src/modifications/removeProperties.js
+++ b/packages/babel-types/src/modifications/removeProperties.js
@@ -24,7 +24,7 @@ export default function removeProperties(
     if (key[0] === "_" && node[key] != null) node[key] = undefined;
   }
 
-  const symbols: Array<Symbol> = Object.getOwnPropertySymbols(node);
+  const symbols: Array<symbol> = Object.getOwnPropertySymbols(node);
   for (const sym of symbols) {
     node[sym] = null;
   }
diff --git a/yarn.lock b/yarn.lock
index 55abcd7e0e..0cbc419aa1 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4784,10 +4784,10 @@ flatted@^2.0.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-2.0.1.tgz#69e57caa8f0eacbc281d2e2cb458d46fdb449e08"
   integrity sha512-a1hQMktqW9Nmqr5aktAux3JMNqaucxGcjtjWnZLHX7yyPCmlSV3M54nGYbqT8K+0GhF3NBgmJCc3ma+WOgX8Jg==
 
-flow-bin@^0.108.0:
-  version "0.108.0"
-  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.108.0.tgz#6a42c85fd664d23dd937d925851e8e6ab5d71393"
-  integrity sha512-hPEyCP1J8rdhNDfCAA5w7bN6HUNBDcHVg/ABU5JVo0gUFMx+uRewpyEH8LlLBGjVQuIpbaPpaqpoaQhAVyaYww==
+flow-bin@^0.123.0:
+  version "0.123.0"
+  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.123.0.tgz#7ba61a0b8775928cf4943ccf78eed2b1b05f7b3a"
+  integrity sha512-Ylcf8YDIM/KrqtxkPuq+f8O+6sdYA2Nuz5f+sWHlp539DatZz3YMcsO1EiXaf1C11HJgpT/3YGYe7xZ9/UZmvQ==
 
 flush-write-stream@^1.0.0, flush-write-stream@^1.0.2:
   version "1.1.1"