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 Marrone Bio Innovations (NASDAQ:MBII) jumped 11.5% today after an analyst initiated coverage on the bio-based best management and plant health company.
So what: Investment firm Robert W. Baird began coverage with an outperform rating and a $15 price target on the stock. The price target represents a 43% upside based on Friday's closing price.
Now what: Analyst upgrades or downgrades can have a short-term impact on stocks, but over the long term they shouldn't change your investment thesis. In fact, Wall Street analysts have a long history of underperforming the market and don't even have much of an incentive to get their picks right. If you're interested in buying shares, wait for this short-term pop to subside and get in at lower levels.
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Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.