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: A day after popping on great earnings news, shares of Buckeye Technologies
So what: Credit Suisse was the culprit today, upgrading the stock to "outperform." But before getting too excited, remember it was Credit Suisse that downgraded the company to "underperform" just two weeks ago, when the stock was $6 lower than it is today.
Now what: I don't put much stock in today's upgrade, but there is a lot of momentum after a great earnings report. This two-day rally makes it tough for those looking to buy the stock, but given a little time, shares may settle down and give us a better entry point. I was bullish on the Credit Suisse downgrade, but today's upgrade is giving me a little more pause at this price.
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