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 dry-cargo shipper Navios Maritime Partners (NYSE: NMM) are floating higher today, up by 15% at the high, after an analyst started the stock with an "overweight" rating.

So what: JPMorgan initiated coverage on Navios with an overweight rating and a price target of $20.50. That price target represents a healthy 47% premium over yesterday's closing price of $13.93, and still 28% higher than today's high so far of $15.97.

Now what: Navios trades relatively lightly with average volume of around 284,000 shares, compared to the average volume of fellow dry-bulk shippers like Dryships (Nasdaq: DRYS) and Excel Maritime Carriers (NYSE: EXM) with 6 million and 544,000, respectively. The sector has been beaten down as the recession has weighed on demand for materials like iron ore and steel, so having a well-known analyst like JPMorgan taking a bullish stance can be a boon. In addition, the Baltic Dry Index, which is an important measure of shipping rates for the sector, is also higher today.

Interested in more info on Navios Maritime Partners? Add it to your watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. 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.