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: Noranda Aluminum (NYSE: NOR) shares jumped 10% today on an upgrade from Goldman Sachs.

So what: Analysts at Goldman upgraded Noranda to "buy" from "neutral," and increased their price target to $14. Goldman said the recent share offering might spur investors concerned about liquidity to buy shares in this stock.

Now what: This is a classic upgrade bump for Noranda today, but I think this bump might have some legs to it. The stock has been on a nice run since its IPO in May, soundly beating estimates in the last two quarters. I'm not inclined to buy today when everyone is buying on Goldman's upgrade, but if the stock pulls back next week, long-term investors should take another look.

Interested in more info on Noranda Aluminum? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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.