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 television broadcaster Belo (NYSE: BLC) jumped as much as 18% in intraday trading today on heavy trading volume.

So what: The research arm of Wells Fargo initiated coverage on Belo today, starting the stock at "outperform." According to Capital IQ, five analysts have ratings on Belo -- two give it a "buy" or equivalent and three have it at a "hold."

Now what: A Wall Street recommendation like this can be a great reason to take a closer look at a stock to see whether it's a fit for your portfolio. But it's generally a bad idea to blindly jump at a stock just because of one positive rating. If heady growth is what you're looking for, you're unlikely to find it at Belo, but the company has a solid portfolio of TV stations in major markets and its stock carries a moderate valuation multiple.

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

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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.