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: MDC Holdings (NYSE: MDC) popped 11% in intraday trading today after two analysts upgraded the stock.

So what: Credit Suisse upgraded this provider of homebuilding and related financial services to outperform from neutral and raised its price target to $28 from $25, citing valuation and expectations of improved operating results in fiscal 2011. Ticonderoga upgraded from sell to neutral.

Now what: The company has been unprofitable for three of the last four years, including last year. EPS estimates for 2011 range from -$1.32 to -$0.04 with consensus estimates of -$0.70 for the year and $0.04 in the fourth quarter. Given the state of the housing industry and MDC's emphasis on first-time and first-time move-up buyers, investors may want to stay on the sidelines pending signs of more favorable housing market conditions.

Interested in more info on MDC Holdings? Add it to your watchlist here.

Fool contributor Cindy Johnson does not own shares of any company named above. 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.