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 Brazilian airplane maker Embraer (NYSE: ERJ) jumped 10% in intraday trading on heavier-than-average volume.

So what: Wall Street giant Goldman Sachs added Embraer to its "conviction buy list" today, noting that the stock has significant upside to Goldman's $39 price target. Goldman also pointed out that regional and business jets tend to lag in a recovery and will likely end up posting gains that will surprise investors to the upside.

Now what: Admittedly, I'm a bit partial to Goldman Sachs, and so an upgrade from there -- particularly an upgrade to its conviction list -- gets my gears turning. Like any analyst upgrade though, the analyst's positive view is a good reason to tune into the stock, but it's not the lone reason to buy. With a forward price-to-earnings multiple of just over 16 and a decent dividend, this seems like a stock well worth keeping an eye on.

Want to keep up to date on Embraer? Add it to your watchlist.

Embraer is a Motley Fool Stock Advisor pick. 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.                                                             

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.