Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Splunk (SPLK) upgraded to Buy from Neutral at Goldman Sachs with analyst Christopher Merwin saying after a "strong" fiscal Q3 report, the he "several catalysts" for Splunk (SPLK) shares to positively re-rate over the next 12 months. 2. Altria Group (MO) upgraded to Buy from Neutral at Citi with analyst Adam Spielman saying it is becoming hard to argue that "tobacco is being disrupted." 3. Plains All American (PAA) upgraded to Outperform from Neutral at Baird. 4. TreeHouse (THS) upgraded to Outperform from Market Perform at William Blair with analyst Jon Andersen saying private brands puts TreeHouse into a "large industry with ample runway for growth." 5. Spirit Airlines (SAVE) upgraded to Buy from Neutral at Buckingham with analyst Daniel McKenzie saying he downgraded the stock in September, arguing that Spirit's revenue outlook was set to worsen on the return of the 737 MAX (BA), the rollout of JetBlue's (JBLU) Fare Families 2.0 and competitive capacity that doubled, but says revenue worries are dissipating on reduced competitive capacity and revenue initiatives are set to finally gain traction in 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

JPMorgan upgraded JetBlue (JBLU) to Neutral from Underweight with a $7 price target. The company is increasingly well-positioned for a modest potential move to the upside based on improving market sentiment, and its upcoming Q2 guide coming next week may exceed consensus, the analyst tells investors in a research note. JetBlue is the second least-liked airline based on sell-side ratings, after Spirit (SAVE), with short interest on the stock also remaining "stubbornly high", the firm added.