Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of television broadcaster Belo
So what: The research arm of Wells Fargo initiated coverage on Belo today, starting the stock at "outperform." According to Capital IQ, five analysts have ratings on Belo -- two give it a "buy" or equivalent and three have it at a "hold."
Now what: A Wall Street recommendation like this can be a great reason to take a closer look at a stock to see whether it's a fit for your portfolio. But it's generally a bad idea to blindly jump at a stock just because of one positive rating. If heady growth is what you're looking for, you're unlikely to find it at Belo, but the company has a solid portfolio of TV stations in major markets and its stock carries a moderate valuation multiple.
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