Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Saia (SAIA) upgraded to Buy from Hold at Deutsche Bank with analyst Amit Mehrotra saying after meeting with management, he is incrementally more confident in Saia's ability to generate double-digit revenue growth this year. 2. Guess (GES) upgraded to Buy from Hold at Jefferies with analyst Janine Stichter saying the recent pullback in the stock puts the company's multiple below its historical average and peers. 3. Spirit Airlines (SAVE) upgraded to Buy from Neutral at Goldman Sachs with analyst Catherine O'Brien saying she expects passenger revenue trends for the company in the first half of the year to be stronger than previously anticipated. 4. MacroGenics (MGNX) upgraded to Buy from Sell at Citi with analyst Yigal Nochomovitz saying additional Phase 1 readouts in 2019 should provide further stock momentum for MacroGenics. 5. Cognizant (CTSH) upgraded to Outperform from Market Perform at BMO Capital with analyst Keith Bachman citing the company's FY19 revenue growth outlook and a positive management transition. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Reports Q1 revenue $754.8M, consensus $770.76M. LTL shipments per workday increased 15.7%; LTL tonnage per workday increased 6.2%. Saia President and CEO, Fritz Holzgrefe, commented on the quarter stating, "As is typical in the first quarter of the year, winter weather impacted operations in the first months of the quarter. March trends improved a bit from February, but we did not experience the expected seasonal step-up. Shipment growth of 15.7% for the full quarter included March shipments per workday increasing by 16.8% from the prior year. Despite volume being below our expectations late in the quarter, we continued to focus on our customer service metrics which saw continued improvement, reflecting our ongoing commitment to provide an excellent service product for customers. So far in 2024, we have opened four terminals in new markets and relocated four additional terminals to new sites in existing markets. We believe this year will mark an unprecedented year of investment in our company, with a total of 15-20 new terminal openings planned for the year. To support our growth, we have already taken delivery of over 2,000 trailers, 400 tractors and 400 forklifts this year, as part of our plan to spend more than $400 million on fleet growth and modernization. All of these investments support our strategy of continuing to enhance our already strong customer service experience, and in doing so we hope to stay on a path of improved financial performance."

B. Riley initiated coverage of MacroGenics with a Buy rating and $25 price target. The analyst views the company's most advanced candidate, vobra duo, as "significantly de-risked" in the ongoing over-enrolled Phase II TAMARACK registration-enabling study, the analyst tells investors in a research note. The firm MacroGenics' fully integrated development and manufacturing capabilities have led to a partnered program portfolio consisting of three FDA-approved medicines and earlier-stage pipeline candidates.

B. Riley initiated coverage of MacroGenics with a Buy rating and $25 price target.