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 Finisar (Nasdaq: FNSR) jumped 13% today after getting an upgrade from an analyst at Credit Suisse.

So what: Analyst William Stein bumped his price target up to $43 from $30 and now sees 2011 earnings of $2.05 per share. The upgrade wasn't too much of a stretch after seeing competitor JDS Uniphase (Nasdaq: JDSU) post outstanding earnings after the closing bell yesterday.

Now what: Whether it was JDS Uniphase's results or the analyst upgrade, Finisar looks to be in a good position in 2011. Broadband and wireless companies are rapidly upgrading networks, and that should mean more to Finisar's bottom line. The move may be overdone today without any news from the company, but long term the stock provides good growth opportunities for investors.

Interested in more info on Finisar? 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.

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