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 home-health-care specialist Amedisys (Nasdaq: AMED) surged as much as 14% in early trading today after a Deutsche Bank analyst upgraded from "hold" to "buy."

So what: Citing an attractive risk/reward trade-off, Deutsche Bank offered a tasty price target of $39, which is about 30% higher than Amedisys' closing price Monday. With Amedisys trading at a sub-five forward EV/EBITDA, Deutsche Bank believes investors' downside is well-protected, while continued progress in restructuring gives them plenty of potential upside, to boot.

Now what: It's hard not to be at least a little intrigued with that outperform case. Even factoring in today's surge, Amedisys is down about 40% in 2010 and still has roughly 20% of upside left to Deutsche Bank's price target. With Amedisys continuing to trade at a substantial P/E discount to rivals Almost Family (Nasdaq: AFAM) and Gentiva Health (Nasdaq: GTIV), the stock looks like a relatively healthy bet, as well.

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

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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