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Here are the biggest calls on Wall Street on Thursday:
KeyBanc said in its upgrade that it believes the company will benefit from export restrictions on Huawei's HiSilicon chip unit.
"With Huawei unable to procure new silicon internally, we expect QCOM's Snapdragon chipset will be designed into its flagship 2021 smartphones. While this will require QCOM to obtain a license, we anticipate this will be granted and consistent with the framework the Bureau of Industry and Security outlined protecting national security. Additionally, we anticipate this agreement would be accompanied by a license agreement."
Imperial said in its downgrade of the stock that it has risen "too far too fast" due to "excitement" over the prospects of the theme parks opening.
"We are cutting our rating on Disney to Underperform from In-Line and lowering our target price to $105, from a previous target of $107. With DIS shares rising 21.2% over the last four weeks, we think that based on our experience, the stock has risen too far too fast and the performance is due simply to excitement around the prospects of the domestic theme parks re-opening, for which DIS submitted a plan to Orange County (Florida) government officials just yesterday. The stock also saw a notable leg higher on 5/15/20 on the official re-opening of 'Disney Springs' in Florida, which is a small shopping complex and immaterial to the income statement."