Here’s why Salesforce, PG, Wal-Mart, and Two Other Stocks Are Trending Today

Abercrombie & Fitch Rises on Upgrade

Abercrombie & Fitch Co. (NYSE:ANF) is almost 5% higher after analysts at Deutsche Bank upgraded the stock to ‘Hold’ from ‘Sell’, noting that much of the bad news such as promotional pressure and softer traffic has been priced in. Although Deutsche Bank expects the clothing retailer to earn $1.02 per share for fiscal year 2017 versus the consensus of $1.14 per share, the investment bank also lifted the price target to $20 from $18.62 per share. The number of funds we track with holdings in Abercrombie & Fitch Co. (NYSE:ANF) rose by two quarter-over-quarter to 31 at the end of March.

BMO Gives Thumbs Up to salesforce.com

Shares of salesforce.com, inc. (NYSE:CRM) are in the green after analysts at BMO initiated coverage on the stock with an ‘Outperform’ rating and a $98 price target. The analysts like CRM’s brand, cost, and sales advantages versus other SaaS vendors, and also note that customers generally like the company’s well integrated products. Shares of the cloud software company have advanced by 5% year-to-date and 63 funds from our database were long salesforce.com, inc. (NYSE:CRM) at the end of March.

Analyst Upgrade United States Steel

United States Steel Corporation (NYSE:X) shares have surged by over 8% after analysts at Bank of America Merrill Lynch upgraded the stock to ‘Neutral’ from ‘Underperform’, and raised their price target to $18 from $10 per share. The analysts note that the forecasted higher sheet steel prices could help stabilize earnings at the steel producer over the coming quarters. Shares of United States Steel have more than doubled year-to-date. Among the funds we track, 28 funds owned $230.25 million worth of United States Steel Corporation (NYSE:X)’s stock, which accounted for 9.80% of the float on March 31, versus 22 funds and $66.41 million, respectively, a quarter earlier.

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