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 Leap Wireless
So what: Along with the upgrade, Moffett offered a new price target on the stock of $12, representing a whopping 70% worth of upside to yesterday's close. The stock has been battered over the past few months -- down more than 50% since the start of July -- on unexpectedly high churn rates, so today's rally serves as a much-needed boost for embattled Leap bulls.
Now what: I wouldn't get too excited over the stock just yet. While Leap -- as well as close rival MetroPCS
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