Analyst Update: United States Steel Corporation, Abercrombie & Fitch Co., and Verizon Communications Inc.

Analysts revised their ratings and price targets on United States Steel Corporation (X), Abercrombie & Fitch Co. (ANF), and Verizon Communications Inc. (VZ)

by Alex Eppstein

Published on Jun 15, 2016 at 2:56 PM

Analysts are weighing in on commodities magnate United States Steel Corporation (NYSE:X), apparel retailer Abercrombie & Fitch Co. (NYSE:ANF), and telecom stock Verizon Communications Inc. (NYSE:VZ)Here's a quick roundup of today's brokerage notes on X, ANF, and VZ.

  • Shares of X are skyrocketing, after BofA-Merrill Lynch lifted its rating to "neutral" from "underperform," and raised its price target to $18 from $10. Specifically, the steel stock has charged 8.6% higher at $17.75, bringing its year-to-date gain close to 122%. More bullish brokerage attention could be just around the corner, considering 12 of 14 analysts have doled out a "hold" or worse opinion on United States Steel Corporation.
  • ANF is riding atop retail sector tailwinds, up 2.6% at $19.11. Adding fuel to the fire ahead of tomorrow's annual shareholder meeting, Deutsche Bank upgraded the stock's rating to "hold" from "sell." Of course, today's gains may be too little, too late -- Abercrombie & Fitch Co. has dropped off precipitously since touching an early March annual high of $32.83, crushed by earnings. Not surprising given these technical struggles, nearly one-quarter of ANF's float is sold short.
  • VZ has managed to edge a shade above breakeven at $53.02, as traders weigh a price-target hike to $52 at Goldman Sachs against a 50% price-target reduction to $25 at Deutsche Bank. In fact, the shares are not far from their 16-year high of $54.49, notched in early April. Meanwhile, Verizon Communications Inc. options traders have been buying to open calls over puts at an extreme clip in recent months. The stock's 50-day call/put volume ratio of 2.81 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is higher than every other reading from the past year.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Exact Sciences Corporation, Monster Beverage Corporation, and TripAdvisor Inc and Analyst Downgrades: Bed Bath & Beyond Inc., Infinity Pharmaceuticals Inc., and GoPro Inc.


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Wall Street Roars Higher Amid Civil Unrest
Investors weighed a mixed bag of jobs data
AstraZeneca Stock Flat Despite COVID-19 Vaccine News
AstraZeneca saw a rise in capacity for its COVID-19 vaccine candidate
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.