Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Hyatt (H) upgraded to Buy from Neutral at Goldman Sachs with analyst Stephen Grambling saying the company is moving more aggressively towards asset light model, which should drive free cash flow and a re-rating in the shares. 2. Ligand (LGND) upgraded to Overweight from Equal Weight at Barclays with analyst Balaji Prasad saying he believes greater clarity on its pipeline offers strong support for its revenue potential and he revised his revenue forecasts for FY19-FY23 due to increased royalty estimates. 3. Twilio (TWLO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Meta Marshall saying the company is building out a next-generation communication platform, with multiple expansion markets "still in their infancy." 4. KKR (KKR) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Alexander Blostein saying KKR is entering a period of accelerated earnings growth, driven by its upcoming fund-raising cycle and maturing investment portfolio, which should yield above-consensus incentive income and earnings. 5. Cousins Properties (CUZ) upgraded to Outperform from Market Perform at Wells Fargo with analyst Blaine Heck saying the company's share underperformance year-to-date relative to peers is not warranted given its exposure to office markets that should see solid rent growth over the next 12-24 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.