As reported previously, Canaccord analyst Bryan Bergin upgraded Virtusa to Outperform from Market Perform. The analyst cited the stabilization of its large client base and margin expansion plans, benefits from increased scale, current pipeline momentum, and strong earnings growth. Bergin raised his price target to $38 from $29 on Virtusa shares.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Adobe (ADBE) upgraded to Outperform from Neutral at Credit Suisse with analyst Michael Nemeroff citing expectations for continued momentum in its highly profitable Creative Cloud business that he expects will lead to stronger than expected operating cash flows over the next few years. The analyst also raised his price target on the shares to $150 from $125. 2. Under Armour (UA/UAA) upgraded to Buy from Hold at Jefferies saying the "bottom has formed." The Under Armour brand has strengthened and athletic apparel demand is robust, Konik tells investors in a research note, citing his firm's updated proprietary survey of 2,000 consumers when compared to three years ago. 3. Alcoa (AA) upgraded to Buy from Hold at Berenberg. 4. Virtusa (VRTU) upgraded to Outperform from Market Perform at Cowen with analyst Bryan Bergin citing the stabilization of its large client base and margin expansion plans, benefits from increased scale, current pipeline momentum, and strong earnings growth. Bergin raised his price target to $38 from $29 on Virtusa shares. 5. PVH Corp. (PVH) upgraded to Buy from Neutral at Citi with analyst Kate McShane saying the company is one of the only apparel/footwear manufacturers with "notable" earnings growth. She raised her price target for the shares to $115 from $102. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.