Abercrombie & Fitch (ANF) was downgraded to underperform from sector perform at RBC Capital. $12 price target. The company is seeing lower sales and facing higher international costs, RBC said.
Foot Locker (FL) was downgraded to neutral from overweight at Piper Jaffray. The valuation is less attractive, based on a $72 price target, Piper Jaffray said.
Fossil (FOSL) was upgraded to neutral from underweight at Piper Jaffray. $32 price target. The company is setting up well to turn the business around in the medium term, Piper said.
Greif (GEF) was downgraded to market perform from outperform at Wells Fargo. The valuation is less attractive, with the stock up 81% year-to-date, Wells said.
Greif was downgraded to underperform from neutral at DA Davidson. The valuation is less attractive, based on a $47 price target, Davidson said.
Illinois Tool Works (ITW) was downgraded to neutral at Goldman Sachs. $125 price target. The valuation is less attractive, with the stock trading at 20x expected 2017 earnings, Goldman said.
KBR (KBR) was upgraded to buy from neutral at MKM Partners. The valuation is more attractive, based on a $21 price target, MKM said.
Leidos (LDOS) was upgraded to outperform from neutral at Credit Suisse. $57 price target. Earnings estimates were also increased, as the IS&GS acquisition should carry significant synergies, Credit Suisse said.