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 Noah Holdings
So what: The rating matters more than the price target. With the stock trading for less than $10 a share, a $16 target would equal a better than 60% gain in a market that hasn't produced many winners.
Now what: Yet investors shouldn't take today's action as a mandate. The Chinese wealth manager has endured wild stock-price swings in recent months, often opening more than 10% higher or lower and then paring the ensuing gains and losses by the close. Monday could very well see a similar reversion to the mean. Do you agree? Would you buy shares of Noah Holdings at current prices? Please weigh in using the comments box below.
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