Analyst Update: Angie's List Inc, Gap Inc, and Olympic Steel, Inc.

Analysts are weighing in on business review site Angie's List Inc (NASDAQ:ANGI), retail stock Gap Inc (NYSE:GPS), and commodities concern Olympic Steel, Inc. (NASDAQ:ZEUS). Here's a quick roundup of today's brokerage notes on ANGI, GPS, and ZEUS.

• ANGI is breaking out this afternoon, thanks to an upgrade to "outperform" from "market perform" at Raymond James. Specifically, the brokerage firm applauded the company's decision to open itself up to free members, writing, "Now that the paywall has been taken down, we would expect to see a significant increase in member growth and activity." Up nearly 8% at $9.70, Angie's List Inc is on track for its highest close since mid-February. This could force other analysts to rethink their opinions toward the shares, given the fact that six of seven rate them a "hold." Regardless, ANGI's rally today is likely putting additional heat on short sellers.

• GPS is on fire following an earnings beat, though CEO Art Peck said he's "unsatisfied with the pace of improvement across the business." At last check, the shares were 3% higher at $26.67, bolstered by no fewer than six price-target hikes on Wall Street -- with Jefferies setting the bar highest, at $30. However, Deutsche Bank remains unconvinced, trimming its target price to $18 from $19. There's still room on Gap Inc's bullish bandwagon, too, despite its sharp gains off its May low at $17. Of the 21 analysts tracking the stock, 18 consider GPS a "hold" or worse, and its consensus 12-month price target of $22.30 stands at a discount to current levels.

• ZEUS has been hammered today, down 17.2% at $21.23, following a downgrade to "underweight" from "sector weight" at KeyBanc. Since hitting a two-year high of $31.19 in mid-July, the stock has surrendered 32% of its value. This should be music to the ears of Olympic Steel, Inc. short sellers -- of which there are plenty. Over 6% of the stock's float is sold short, which would take about seven trading days to cover, at ZEUS' usual volumes.