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 drone designer AeroVironment (Nasdaq: AVAV) were in flight today, gaining as much as 10% in intraday trading after a Wall Street upgrade.

So what: Goldman Sachs analyst Noah Poponak upgraded AeroVironment from neutral to buy and boosted his price target for the stock from $32 to $38. Poponak noted that while the overall defense sector may be challenged right now, the funding for unmanned aircraft is strong and growing. The analyst also suggested that AeroVironment could be a buyout target for a larger defense contractor, specifically calling out Boeing (NYSE: BA) and Textron (NYSE: TXT) as potential suitors.

Now what: For those who are already bullish on AeroVironment -- including my fellow Fools at Motley Fool Rule Breakers -- the bullish assessment is no doubt a welcome confirming view. For those on the sidelines who have been keeping an eye on the stock, this could be a good reason to tune back into the story to see whether there's good reason to be a buyer. However, it's important to remember that Poponak's take is just one analyst's view and by itself isn't much of a thesis for joining the excitement today and slapping the buy button.

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