Here are Thursday's biggest analyst calls of the day: Verizon, Microsoft, Five Below & more

Published Thu, Nov 5 20208:01 AM EST

Key Points

JPMorgan upgraded Verizon to overweight from neutral.
Oppenheimer upgraded Microsoft to outperform from perform.
Loop Capital downrgaded Five Below to hold from buy.
Bank of America upgraded Wendy's to buy from neutral.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Thursday: JPMorgan upgraded Verizon to overweight from neutral JPMorgan said in its upgrade of the wireless telecommunications giant that it's a "defensive" stock poised to grow and gain investors "confidence." "Today we upgrade Verizon to Overweight with a $65 price target (up from $61) based on 1) accelerating wireless service revenue growth, 2) spectrum shortages are clearing, 3) Tracfone accretion, 4) reduced fears of tax increases, 5) potential new revenue sources around fiber and fixed broadband developing in 2021 with more impact in 2022+, and 6) potential capital return/buyback as early as 2022. Oppenheimer upgraded Microsoft to outperform from perform Oppenheimer upgraded the multinational tech giant and said it was impressed with the company's most recent earnings report and that products like its Teams messaging service will "dominate" for a "generation." " MSFT delivered a strong quarter from Teams and reaccelerated cloud growth. There was a brief COVID-19 impact, but enterprises are racing to digitize and churn has not materialized and may not given potential stimulus and a vaccine. Windows/server went from tailwinds to headwinds, but we saw this in 1Q21 and the Street's aware. Teams is unique and should dominate enterprise applications/communications for a generation." Loop Capital downrgaded Five Below to hold from buy Loop downgraded the discount retail store mainly on valuation but said the stock was still "compelling." "Our downgrade is based on Five Below' s valuation, as opposed to a more bearish view of the company's fundamentals (although we do have some concerns about the upcoming holiday selling season). Five Below remains one of the most compelling long-term fundamental growth stories in the specialty hardlines retailing sector in our opinion.' Bank of America upgraded Wendy's to buy from neutral Bank of America upgraded the stock after its earnings report on Wednesday morning and said the fast food chain is "well positioned" to gain market share. "We upgrade Wendy 's to Buy from Neutral and raise our estimates and price objective following 3Q earnings yesterday. Wendy's is well positioned to capitalize on restaurant market share consolidation to drive-thru centric, scaled quick-service brands at the expense of mid-sized brands and independents. Quick service as a whole has seen greater demand than pre-Covid as consumers lean into drive-thru and off-premise."

Hans Vestberg, chief executive officer of Verizon Communications Inc., gestures as he speaks during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Tuesday, Jan. 8, 2019.

David Paul Morris | Bloomberg | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Thursday: